Plans Revealed For Two-Towered Lower East Side Project

LOWER EAST SIDE, NY — The developer behind two controversial towers coming to the Lower East Side unveiled the project's design a month after the Seward Park Cooperative rejected a $54 million air rights sale that would have dramatically boosted the buildings' size, real estate blog YIMBY first reported.

Renderings show two glassy towers, 226-232 East Broadway, dwarf the Bialystoker Nursing Home. The 20 and 36 story buildings flank the brick, landmark building, which was at the center of a debate among residents of the Seward Park Co-op over wether to sell excess development rights to the project.

In 2017, developer Ascend Group began negotiations with the co-op to purchase air rights from the complex that would have allowed for taller towers than what zoning allows in the neighborhood.

The co-op board was in favor of the sale, which it said would have raised nearly $40 million after taxes to pay for sorely needed repairs including 25 new elevators and would have halted the board from raising maintenance fees for shareholders.

Some residents feared that the high rise development in the traditionally low rise, low income community would hasten gentrification, dwarf the nursing home and block co-op members sprawling views. Ultimately, residents rejected the sale and Ascend was forced to continue the project without the co-op's extra building rights.

The project's completion is anticipated for 2020 or 2021, YIMBY reported.

Images courtesy of S4 Architecture