Essex Crossing

 Essex Crossing

Essex Crossing is expected to be one of the projects which is going to transform New York City forever. The entire reasoning behind the project is to create over a thousand residential units, out of which a good number would be kept affordable to a wide range of incomes. The complex would also host over 700,000 square feet of commercial space, 350,000 square feet of office space, 100,000 square feet of community space, and 100,000 square feet of greenery space including a new public park. 

“The project’s developers expect to rake in plenty of cash from all the market-rate condos, apartment rentals and commercial office and retail spaces. Rising real estate values on the Lower East Side have accelerated neighborhood gentrification but also helped subsidize the project’s abundance of affordable housing and community services” (NYTimes).

A picture of the planned development (Image Credits: NY.Curbed)