By Colin O'Leary
December 5th, 2018
The city has approved a controversially development project to build a trio of large-scale residential towers on the Lower East Side waterfront on Wednesday, according to The Real Deal. After a long and bitter review process, the City Planning Commission voted 10-3 in favor of the new towers, which was filed jointly by four separate developers. The three new high-rise residential towers will join recently built One Manhattan Square, adding an additional 3,000 new housing units to the area also known as Two Bridges.
JDS Development Group will build a 1,000-unit rental tower at 247 Cherry Street. L+M Development and CIM Group will build a 798-foot tower at 260 South Street. The Starrett Corporation will build a 730-foot building at 259 Clinton Street. The projects represent a combined $4.5 billion worth of investment in the neighborhood.