It looks like ubiquitous Danish architecture firm Bjarke Ingels Group is the latest to join the list of famous names designing buildings along NYC’s High Line. According to Bloomberg, BIG was recently chosen to design the new HFZ Capital condo development located next to the Chelsea park. The project at 501 West 17th Street is expected to have 300 two- and three-bedroom apartments spread out between two 28-and 38-story towers. Although the property sale was one of the most expensive in NYC’s history, it’s reported that the rent of the luxury condos will be set within a reasonable range. Well, reasonable for some, that is.
Purchased for $870 million, the development site is one of Manhattan‘s most expensive property deals. However, HFZ’s principal Ziel Feldman told Bloomberg that the price of the condos would be “affordable”, with the square foot price ranging from $3,750 to $4,000. Feldman explained that the pricing has to do with the city’s current oversaturation of ultra-expensive luxury options, “I don’t want to be hostage to a $10-to-$20 million condo market. I don’t want to be in that market a year or two from now.”
As far as the design, Feldman said that the building will be a “self-contained kind of city” where residents will have their own courtyard and private parking entrance. Additional plans call for a fitness center, street-level retail, restaurants, and a small public park that connects to the High Line. The plan is also considering finding a boutique-size hotel to fit in the smaller tower, granted the brand fits in with the project’s design.
The Chelsea development is slated to be completed in 2018, with sales starting in early 2016.