The New York City skyline is iconic throughout the world. It is constantly changing and evolving, always leading to new uses of formerly underused or vacant spaces. The Hudson Square neighborhood of Manhattan is experiencing this kind of development and, today, is thriving.
1. Old Becomes New
One example of breathing new life into the old is the development of Saint John’s Terminal. Located where West Houston Street intersects the West Side Highway, the terminal was originally constructed in the 1930s and is ripe for being reimagined. The terminal stretches nearly four blocks and, while today it stands at just three stories tall, it will be gut-renovated into a 12-story office building, complete with a glass facade and landscaped rooftop and terraces.
Google has signed a lease for the structure’s entire 1.3 million square feet. That office space, along with other locations in Manhattan that Google has secured, is expected to bring 12,000 new employees to Manhattan. This will further solidify Manhattan’s reputation as Silicon Alley, and we anticipate that will lead to even further investment in the city.
The redevelopment of Saint John’s Terminal will change how a neighborhood is seen and utilized, making way for new opportunities and keeping the building in step with current trends and maximizing the use of the space. Updates like these will make this part of Manhattan that much more desirable to future tenants and will continue to add value to the neighborhood.
2. Infrastructure Improvement
Meanwhile, other recent projects have brought a new look and use to the area. The New York City Department of Sanitation has opened its hotly-contested garage for garbage trucks. As part of a “larger Bloomberg-era plan to spread the burden of urban sanitation more evenly throughout the city’s boroughs,” the location of the garage received significant push-back from local residents.
However, now that the garage is built, it has been heralded as “a resounding infrastructure success,” being both attractive to locals and functional as a city resource for trucks to park and refuel. While we’re happy to see that the community is pleased with the end result of the garage, adding retail stores along Washington Street or granting public access to the 1.5-acre green rooftop garden of the building would have been an excellent way to bring more life to an otherwise long and empty road.
Similarly, a $20 million salt shed has opened its doors on Spring Street. While this space may not bring commercial foot traffic, the architecturally intriguing building appeals to those who are fascinated by New York City’s distinct design elements. Built with unconventional angles, it allows for the salt that is deposited there to “settle at its natural slanted angle of 32 degrees, also called angle of repose. This unique way of storage allows for trucks to drive up one side, dump salt more conveniently onto the mound, which will then settle in its own stable way,” according to Untapped New York.
These modern additions to Hudson Square spark visual interest while providing resources that are needed to keep New York City working. We anticipate that projects like these, in addition to the transformation of a one-story garage into the 20-story, 120-room Hotel Hugo, will lead to even further development and investment in the city.
3. Luxury Housing Thrives
New apartments are constantly rising in this area of Manhattan as well, with one recent addition being Greenwich West’s 170 new apartments. A reinterpretation of a loft building with access to the excitement of downtown and high-end amenities, these homes will have incredible views of the Hudson River and eco-design elements, with a huge vertical garden inside.
Another building at 565 Broome Street has been recently constructed with 115 homes. With purchase prices starting at just under $1 million, the 30-story building is tall for the neighborhood, giving residents incredible views. The architect focused on featuring stone, glass, white oak wood and concrete to give the building a unique character that we expect will stand out in SoHo.
A private courtyard can be found secreted away between the two 15-story towers that make up 77 Charlton, home to 161 condos new to the neighborhood. With pricing on currently available units starting at just shy of $1 million, the building’s amenities include a fitness center, lap pool plus sauna and steam rooms, which will make these homes a haven for Manhattanites.
I’m looking forward to seeing this newest evolution of Manhattan and all that it will bring. With a $2 billion infusion into Saint John’s Terminal alone and redevelopments of all kinds paving the way, I expect the Hudson Square neighborhood of Manhattan will go on to experience more and more revitalization. We can predict that significant investment in this neighborhood will continue as companies seek out new and dynamic spaces for their employees to live and work in New York City. With all the development that is happening in Hudson Square, it’s a nice area to invest if you can find the right deal. Be on the lookout for some major changes in the coming year.