AvalonBay West Chelsea Proposal
AvalonBay in NYC:
- Over the last 15 years in NYC, AvalonBay has successfully completed eight residential developments in Manhattan, Brooklyn, and Queens.
- These eight job sites created:
- 6,000 construction jobs
- 800 permanent jobs in NYC
- $1.6 billion in regional investment-with $1 billion taking place in NYC
- 2,567 rental apartments in NYC--including 190 affordable units
Avalon West Chelsea:
- Located at 525 West 28th Street (on 11th Avenue)
- Two separate addresses and entrances: one fronting W. 28th and the other on 11th Ave.
Benefits to the Community:
- $165 million construction investment
- 21,000 sq ft of ground-floor retail
- 80/20 development - 710 rental units with 20%, or 142 of those units reserved for affordable housing
- Anticipated LEED Silver certification
- Total construction time is expected to be approximately 3 years.