Related is adding a luxury building for seniors to the Hudson Yards.
The developer just announced a venture with its Atria Senior Living partner, Spitzer Enterprises and Welltower will develop 451 10th Avenue as an “upscale urban senior living community.”
It will be the first East Coast location for the Related / Atria JV whose $3 billion pipeline of senior projects was launched last year in San Francisco.
Related said development work is already underway at the 10th Avenue site, which it owns in partnership with Spitzer.
Plans call for a 44-story building with 526 residences. Scheduled for completion in 2022, Related said in a press release,”451 10th Avenue will grant seniors unrivaled access to the City’s new heart of culture, fashion, commerce and cuisine with convenient connectivity to public transportation.”
Welltower is the long-term strategic capital partner for the Related|Atria JV in connection with both the 451 10th Avenue project as well as the previously announced 1001 Van Ness project in San Francisco.
The Hudson Yards project represents Welltower’s third purpose-built senior living community in Manhattan.