Developers are always on the hunt for a good piece of vacant land in great locations. Lincoln Square in the Upper West Side of New York is one of these great locations that has been underdeveloped. This will all change. In and around Lincoln Square is currently under construction. Here are some of the luxury towers going up;
Sam Zell and Equity Residential is building a 20 Story, 235 Unit Residential Building at 170 Amsterdam Avenue, which is between West 67th and West 68th Street.
William Dickey and Dermot Company with its partner AFL-CIO BIT is building a 43 Story, 616 Unit Residential Building at 21 West End Avenue, which is between West 60th and West 61st Street. This new development will include a Four Story School for grades Pre-k thru Eighth and is expected to open for the 2016 school year.
Leonard Litwin and Glenwood Management is building Two Buildings. One building is a 48 Story, 257 Unit Residential Building at 175 West 60th Street. The second bulding is a 54 Story, 339 Unit Residential Building at 160 West 62nd Street.
These developments are a great sign of confidence investors have in the future of the Upper West Side. Demand to live in the area is at an all time high due to the great schools and family oriented community the Upper West Side has to offer. There are great transportation options to get to and from the neighborhood. According to the local paper “West Side Rag”, The subway lines A, B, C, D, and 1 at the West 59th Street station provides free wi-fi service which allows access to emails and the internet from your cell phone. It’s small improvements like this that attract all working families and create demand to be a part of this great town. For these reasons among others, land is scarce in the Upper West Side.
Due to a shortage of vacant land in New York City, specifically in the Upper West Side, the city has proposed a few creative opportunities for developers. The plans call for developers to build a luxury tower to include a new larger Public School in place of PS 191 on West 60th Street and PS 199 on West 70th Street along with residential units. If these plans clear the common hurdles expect more public schools to follow suit, maybe private schools as well.