Real Estate Weekly
Image default
Construction & Design

Lenox Terrace plan moves forward in Harlem

The project will create over 2,700 on-site construction jobs and over 300 permanent jobs.

A proposal representing what would be one of the largest private investments in Harlem’s future took a significant step forward last week.

A plan to increase mixed-income residential units and make substantial improvements to the public realm at Lenox Terrace entered the official public review process known as ULURP (Uniform Land Use Review Procedure).

The vision for Lenox Terrace, based on a master plan conceived more than a decade ago by Harlem architect Max Bond, will transform asphalt parking lots into six acres of green space, improve existing buildings for current residents, and build approximately 1,600 units of mixed-income housing on underutilized sites.

Built in 1958, Lenox Terrace quickly became known as “Harlem’s Best Address,” offering a new standard of living previously unavailable in Harlem residential communities. Lenox Terrace, originally developed by Robert S. Olnick, continues to be owned and managed by the Olnick family.

“For more than 60 years, Lenox Terrace has been one of Harlem’s most beloved communities,” said Seth Schochet, president of The Olnick Organization, the owner and developer of Lenox Terrace.

“After many years of planning and incorporating feedback from Lenox Terrace residents, this plan ensures that an important part of Harlem’s legacy continues for generations to come.”

In total, the project includes approximately 1,600 new units of mixed-income housing, with approximately 400 affordable units complying with the City’s Mandatory Inclusionary Housing (MIH) standards, 160,000 s/f of neighborhood retail, six acres of green space and an array of amenities available to all Lenox Terrace residents.

The project will create over 2,700 on-site construction jobs and over 300 permanent jobs.

Construction for the development is projected to begin by the fall of 2020, with an expected opening of Phase 1 in 2023.

Located between Lenox Avenue and Fifth Avenue from 132nd to 135th Streets and comprising over six square blocks, Lenox Terrace currently is home to more than 4,000 people across six buildings.

Related posts

AI and cloud adoption propel data center demand to record levels for 2023


DeSimone continues global expansion with latest UK acquisition


Rare green warehouse set to open in The Bronx