311 West 42nd Street is a planned 350,000 square-foot mixed-use residential building located at the dynamic convergence of Times Square and the Clinton Preservation District in Hell’s Kitchen. Taconic entered into a new long-term lease with 1199SIEU Health Care Workers Union to develop the 32,000 square-foot block-through site into a mixed-use building with residential and prominent retail uses. The property is centrally located in Manhattan with direct access to many of NYC’s most vibrant neighborhoods via ample public transportation in addition to desirable local amenities.
Designed by Handel Architects, the 35-story building will contain almost 50,000 square feet of retail space across three floors on bustling 42nd Street and more than 300 rental apartments accessed from the more sedate residential 43rd Street. The Property’s large lot size and unique through-block exposure allows for protected light and air on the residential floors and a distinct residential lobby experience on 43rd Street while optimizing valuable retail frontage on 42nd Street in one of the most heavily foot trafficked markets in Manhattan. The project will include over 10,000 square feet of landscaped outdoor space accessible for all residents. Taconic plans to begin construction in the Summer of 2020, with completion by Spring of 2023.