Dermot Company’s 21 West End Avenue development, a 616-unit rental building currently being constructed on West 61st Street, is slated to open in early 2016.
It will include two and three-bedroom apartments, aiming to cater to families, and 127 affordable units under the city’s 80/20 program which allows low and middle-income renters to obtain housing.
It will also feature 24,000 square feet of retail space across two levels and a four-story public school.
Drew Spitler, director of development at Dermot Company, noted that he has observed more families moving into Lincoln Square in recent years.
Market prices in the building will range from $3,700 per month for a studio to $7,800 for a two-bedroom.
“Personally I think that given the lion’s share of projects and continued demand for rental apartments we won’t have a problem in leasing these units,” he said.
The public school will be a welcome addition to the neighborhood as many of its schools are over capacity. According to the city Department of Education, the school will house pre-K through fifth grade and will seat 692 students. The agency said an opening date and name for the school are not yet determined.
A spokesperson noted that decisions about the school will be made as DOE moves closer to the opening of the school based on the needs of, and feedback from the school community.