McCaffery Interests' plans to redevelop a site in Fulton Market's western half took another step forward. The firm announced the start of construction of a 150K SF mixed-use office building at 1201 West Lake St. McCaffery received zoning approval for the project in April.

The seven-story, glass and concrete structure, dubbed Twelve01West, will feature 24K SF floor plates, 45 indoor parking spaces, 11K SF of street-level retail, 20K SF of landscaped green space and amenities including a tenant lounge, an outdoor deck and a wellness center.

McCaffery is partnering with New York Life Real Estate Investors on the project, which is expected to be completed in Q4 2018. McCaffery's Allan Perales, Andrew Macafee and Giovanna Ventola will handle marketing and leasing of the building's 11K SF retail component. The office space will be marketed by JLL's Brad Despot, Michael Curran and Erica Rogers.