chrystieplace - Williams Jackson Ewing

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RETAIL
At Chrystie Place, main street meets Manhattan in more than 115,000 square feet of
street retail space. A uniquely sophisticated, yet festive, urban streetscape in the heart
of Manhattan, the project will feature a mix of retailers, large and small, fashion and
specialty, and a dynamic mix of sleek restaurants and intimate sidewalk cafes.
project summary
LOCATION
Located in Lower Manhattan at Houston Street and Bowery, Chrystie Place
consists of four development parcels, connecting neighborhoods in the East
Village across Houston Street to those in The Lower East Side. The project is
bisected by Christy Walk, a lush, landscaped promenade featuring a host of
intimate boutiques and romantic sidewalk cafes.
RESIDENTIAL
Chrystie Place is comprised of 657 luxury apartment units, featuring the very
best in urban living. Between the first-class amenities and first-rate location,
the project is a perfect fit for young professionals, families and empty-nesters alike.
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COMMUNITY FACILITY
Chrystie Place will be home to one of Manhattan’s newest and most ambitious YMCA
facilities. The 35,000 square foot center will be home to first class fitness facilities, an
indoor swimming pool, basketball courts and a sweeping rooftop sundeck, all to serve
Chrystie Place residents and the surrounding community.
DEVELOPMENT TEAM
Master Developer: Avalon Bay Communities – Alexandria, VA
Retail Development and Leasing: Williams Jackson Ewing – Baltimore, MD
Design Architects: Arquitectonica – Miami, FL
Executive Architect: SLCE Architects – New York, NY
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PHASE I (Now Open)
South of Houston Street, between Bowery and Second Avenue
361 luxury Apartments, featuring the finest in urban living
85,000 square foot Whole Foods grocery store, featuring the finest in gourmet and natural
foods.
42,000 square foot, state of the art YMCA community facility
PHASES II and III (Fall 2009)
North of Houston Street, between Bowery and Second Avenue
296 luxury apartments, featuring the finest in urban living
30,000 square feet of street retail space, featuring cutting edge boutiques and
galleries, and romantic sidewalk cafes and restaurants.
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A contemporary, creative and unmistakably New York streetscape is moving in at the nexus of six dynamic downtown neighborhoods:
NoLita (North of Little Italy), the East Village, SoHo (South of Houston Street), NoHo (North of Houston Street), Greenwich Village
and the Lower East Side.
Chrystie Place delivers a groundbreaking mix of main-street retail, inventive dining, romantic sidewalk cafés and new luxury apartments.
Spread across four prime locations fronting Houston Street, East First Street, Second Avenue and Bowery, the project includes more
than 657 apartment units and 115,000 square feet of retail and restaurant space, creating a new concentration of retail and entertainment
amenities for the community. Chrystie Place is the latest addition to one of Manhattan’s most fashionable districts. As new residential
construction continues to emerge on Bowery, New York and Europe’s best retailers and restaurateurs are flooding the area and the tenant
roster keeps getting hotter.
location
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18 to 34 and 45 to 54 age categories are increasing
at a significantly higher rate in the Chrystie Place
(14% and 24%) trade area than the Upper East
Side (1% and –5%) and Upper West Side (-0.4%
and 14%).
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village map
Median income levels in the Chrystie Place trade
area have increased by more than 100% in the
past ten years and is projected to increase by
another 30% in the next five years.
Between 1990 and 2000, the number of households
in the Chrystie Place trade area earning over
$75,000 increased 198%, compared to 61% in the
Upper West Side and 33% in the Upper East Side.
Housing prices in the East Village increased by
more than 200% for a two bedroom unit between
1990 and 2000, increasing at a significantly higher
rate than on the Upper East Side (89%) or Upper
West Side (100%).
project plan
Of the 36 net new restaurants to the Zagat Survey
in 2002, 78% were located in the Lower East Side
and the East Village, compared to the Upper East
Side which had 3% and the Upper West Side,
boasting 8%.
Manhattan
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CHRYSTIE PLACE TRADE AREA
POPULATION
Total
18-34
35-54
Total Households
INCOME
$50,000 to $74,999
$75,000 to $99,999
$100,000 to $149,999
PURCHASE
2 Bedroom
RENTALS
Studio/1 Bedroom
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UPPER WEST SIDE TRADE AREA
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UPPER EAST SIDE TRADE AREA
2000
135,223
48,484
39,523
60,771
1990 - 2000
CHANGE
3.0%
13.5%
24.2%
7.9%
2000
125,641
38,188
42,166
72,427
1990 - 2000
CHANGE
0.1%
-0.4%
13.8%
-1.2%
2000
162,873
50,528
50,674
97,231
1990 - 2000
CHANGE
1.5%
1.4%
-5.1%
1.3%
Space
8,896
4,575
4,357
Space
57.3%
125.1%
238.3%
Space
10,416
7,759
9,883
Space
-12.3%
16.2%
39.6%
Space
16,151
9,580
11,815
Space
8.9%
16.0%
20.9%
Space
$200,000 - $850,000
Space
204.0%
Space
$285,000 - $700,000
Space
100.0%
Space
$350,000 - $850,000
Space
89.0%
Space
$1,200 - $2,800
Space
75.0%
Space
$1,200 - $2,700
Space
42.0%
Space
$1,150 - $2,800
Space
27.0%
phases I & II
phase III - extra place & 1st street
phase II - northwest corner of
1st street and bowery
phase I - northeast corner of
houston street and chrystie street
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phase II & III lease plan
project plan
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the team
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Avalon Bay Communities
535 Fifth Avenue
18th Floor
New York, New York 10017
Phone: 212.370.9269
Williams Jackson Ewing
2002 Clipper Park Road
Suite 201
Baltimore, Maryland 21211
410.752.6007
Arquitectonica
114 West 26th Street
Fifth Floor
New York, NY 10001
212.254.2700
SLCE Architects
841 Broadway
New York, New York 10003
212.979.8400
AvalonBay Communities, Inc. is a real estate investment
trust (“REIT”) that develops and manages luxury
apartment communities in the Northeast, Mid-Atlantic,
Midwest, Pacific Northwest and Northern and Southern
California regions of the country. With one of the largest
portfolios of urban apartment communities in the
industry, AvalonBay has the experience, resources and
track record to turn innovative urban development
concepts into reality. At June 30, 2002 AvalonBay
owned or held interests in 146 apartment communities
containing 42,914 apartment homes. AvalonBay
Communities, Inc.'s common stock trades on the New
York Stock Exchange and the Pacific Exchange under
the ticker symbol "AVB."
With more than 30 years of experience, Williams Jackson
Ewing has been recognized as the foremost authority
on retail development trends worldwide, and the
integration of retail and entertainment venues within
the framework of urban development and revitalization.
As a retail developer and leasing specialist, Williams
Jackson Ewing is responsible for the redevelopment of
such epic landmarks as Union Station in Washington,
DC, and Grand Central Terminal in New York City. The
firm is also credited with highly successful regional and
neighborhood center projects, including Sansom Common
and Suburban Square, in Philadelphia.
Based in New York and Miami with offices around the
world, Arquitectonica was founded in 1977, developing
an international practice recognized for excellence and
innovation. The firm is best known for its creative ability
to design projects with memorable imagery and regional
identity. Retail stores, cafes, art and performance spaces
are considered and designed to harmonize with various
residential design components. The firm’s designs have
won numerous American Institute of Architects and
Progressive Architecture Design Awards for projects
spanning several continents including residential towers,
sports arenas, mixed-use developments, resorts, hotels,
retail centers and office buildings to specialized projects
such as a U.S. Embassy, an opera house and symphony
hall.
SLCE is detail specific, providing intensive planning and
site evaluation at project inception, with a special
emphasis on zoning needs analysis; development of
dependable, buildable plans for all building types; and
finally, follow through with the same attention to detail
throughout the construction phase.
In recent years, the firm has further expanded its inhouse design capability, and as evidenced in projects
like Metropolitan Tower, 30 East 85th Street in New
York City, the Carlton House Apartments in Larchmont,
Avalon Willow Mamaroneck and Avalon Bronxville, New
York, SLCE's stylistic approach avoids the "today only"
trends in favor of architectural solutions that respond
to clients' real building needs.