Olnick Organization Grows Lenox Terrace Expansion Plan In Harlem
The Olnick Organization plans to add a huge number of apartments to its Lenox Terrace complex in Harlem.
Olnick proposed an expansion to the complex of buildings surrounding a private park in 2015 that would have added 1,300 new units and 287K SF of retail, but that plan has changed dramatically into a 1,642-unit expansion, New York YIMBY reports.
The expansion would involve five new towers, some of which will be built on top of existing retail structures and all of which will be substantially taller than the existing buildings. The retail portion has apparently been slashed to 40K SF, with 15K SF slated for community space, and replaced with 200 planned parking spaces, according to YIMBY.
When the expansion was first presented to the Uniform Land Use Review Procedure in 2015 for commercial rezoning, Lenox Terrace residents were incensed, with 78% stating their opposition, according to YIMBY. Part of the resistance was due to the size of the retail portion, with tenant association leader Elaine Williams worried the area would feel like a mall.
Of the new units, the Olnick Organization claims that between 411 and 493 will be designated as affordable. Rents for available, market-rate apartments in the complex average around $2K/month, according to the Lenox Terrace site. The planned expansion's first phase is scheduled to be complete by 2022, and the full project is anticipated to finish up by 2027.