Spura

Spura

Essex Crossing is an under-construction mixed-use development in New York City's Lower East Side, part of the existing area known as the Seward Park Urban Renewal Area (SPURA). The development, at the intersection of Delancey Street and Essex Street just north of Seward Park, will comprise nearly 2,000,000 square feet (200,000 m2) of space on 6 acres (2+1⁄2 ha). The development will cost an estimated US$1.1 billion. It will sit on a total of nine city blocks, most of them occupied by parking lots that replaced tenements razed in 1967.Essex Crossing, originally approved as a component of the Seward Park Urban Renewal Area in October 2012, is expected to create 1,000 housing units, 1,000 permanent jobs, and 5,000 construction jobs. The project, overseen by SHoP Architects and developer Delancey Street Associates (a joint venture of L+M Development Partners, BFC Partners, and Taconic Investment Partners), will build a 60/40 mix of residential and commercial space; create 500 units of permanently affordable housing for low-, moderate-, and middle-income households, and senior housing; and allocate 15,000 square feet (1,400 m2) of publicly accessible open space. The plan was presented to the public in September 2013 by then-Mayor Michael Bloomberg, as a compromise solution after decades of political disagreements over the site.Construction on the project began in 2015; partial completion is expected by mid-2021, and final completion by 2024.

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