Essex Crossing
Official rendering of Essex Crossing buildings at Essex and Delancey Streets
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| Address | Centered around Essex Street and Delancey Street, New York, NY 10002 |
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| Coordinates | 40°43′08″N 73°59′35″W / 40.7188°N 73.9930°WCoordinates: 40°43′08″N 73°59′35″W / 40.7188°N 73.9930°W |
| Status | Planned |
| Groundbreaking | 2015 |
| Estimated completion | 2024 |
| Website | http://essexcrossingnyc.com |
| Companies | |
| Developer | Delancey Street Associates |
| Owner | Essex Crossing NYC |
| Manager | Essex Crossing NYC |
| Technical details | |
| Cost | $1.1 billion |
Essex Crossing is a planned mixed-use development in New York City's Lower East Side, part of the existing area known as the Seward Park Urban Renewal Area (SPURA). The development, at the intersection of Delancey Street and Essex Street just north of Seward Park, will comprise nearly 2,000,000 square feet (200,000 m2) of space on 6 acres (2 1⁄2 ha), with the start of construction scheduled for mid-2015, partial completion by mid-2021, and final completion by 2024. The development will cost an estimated US$1.1 billion. It will sit on a total of nine city blocks, most of them occupied by parking lots that replaced tenements razed in 1967.
Essex Crossing, originally approved as a component of the Seward Park Urban Renewal Area in October 2012, is expected to create 1,000 housing units, 1,000 permanent jobs, and 5,000 construction jobs. The project, overseen by SHoP Architects and developer Delancey Street Associates (a joint venture of L+M Development Partners, BFC Partners, and Taconic Investment Partners), will build a 60/40 mix of residential and commercial space; create 500 units of permanently affordable housing for low-, moderate-, and middle-income households, and senior housing; and allocate 15,000 square feet (1,400 m2) of publicly accessible open space. The plan was presented to the public in September 2013 by then-Mayor Michael Bloomberg, as a compromise solution after decades of political disagreements over the site.
Historically, the Lower East Side was an immigrant neighborhood, including Germans, Irish, Italians, and Hispanics; Essex Crossing was envisioned during the neighborhood's period of gentrification, but this part of the Lower East Side is an area alternatively known as SPURA, which has been up for development since the mid-1960s. SPURA which covers five vacant plots of land acquired as part of a 1965 urban renewal plan, near Delancey and Grand Streets. These sites were originally part of the broader Seward Park Urban Renewal Area, a federal program designed to tear down several tenements to develop low-income housing, called the Cooperative Village. Some original SPURA land was eventually developed, but five lots remain vacant to this day. As SPURA was the largest tract of undeveloped New York City-owned land in Manhattan south of 96th Street, deciding what the “appropriate redevelopment” of SPURA would be had stalled the process and kept it undeveloped.
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