TF Cornerstone’s 57th Street Rental Megaproject Moves Forward With Concessions

TF Cornerstone’s 57th Street Rental Megaproject Moves Forward With Concessions
Catherine Yang
4/24/2014
Updated:
7/18/2015

TF Cornerstone’s 1,189 rental unit mixed-use project was approved by the City Council’s Land Use committee Thursday, after recent neighborhood opposition at the eleventh hour.

Residents on the West Side had been concerned about overcrowding, as the midtown project on 606 W 57th St. was only one of many in the immediate few blocks. About 4,500 units are in development within a five-block radius of the project, including The Durst Organization’s Bjarke Ingles pyramid.

Councilmember Helen Rosenthal acknowledged it was not any of the individual developers’ faults and wished the impact of the projects combined had been reviewed more thoroughly.

On Thursday, Rosenthal announced more benefits for the community won after establishing common ground with the developer.

Rosenthal secured a new public school pre-Kindergarten and lease with the Department of Education, with the build-out to be paid for by the developer.  Overcrowding in schools was one of the issues Rosenthal fought to relieve her community of when she took office. 

Twenty percent of the building will be permanently affordable and have equal access to all amenities.