Construction of 570 Washington Street is rapidly progressing, nearing its completion date.
570 Washington Street, a new 17-story residential building, is on track to provide 175 affordable senior apartments by December 2026. Designed by COOKFOX, with significant support from various partners, the project includes amenities and retail space while emphasizing sustainability. Current construction progress shows impressive advancements, ensuring the project remains aligned with its anticipated completion date.
Construction is rapidly progressing on 570 Washington Street, a striking 17-story residential building that is set to provide 175 affordable senior apartments in the bustling area between Manhattan’s West Village and Hudson Square neighborhoods. The project is on track for completion by December 2026.
The architectural vision for this ambitious project comes from the acclaimed firm COOKFOX, with SLCE serving as the architect of record. Development partners for the initiative include Jonathan Rose Companies, Atlas Capital Group, The Baupost Group, and Zeckendorf Development.
Of the 175 affordable units, the apartments will average approximately 1,065 square feet each. Additionally, the development will feature 3,300 square feet of retail space at ground level, inviting new businesses to the neighborhood. Situated strategically on the same block as the two-tower 80 Clarkson Street complex, the new building occupies a site bounded by Clarkson Street to the north, West Houston Street to the south, Washington Street to the east, and 80 Clarkson and West Street to the west.
As of the latest updates, nearly all sections of the building’s exterior façade have been installed. This marks a significant leap forward from the previous update in December, when less than half of the floors were enclosed. Ground-floor window panels have now been mounted, and work will soon commence on forming sidewalks. Parts of the sidewalk fencing have been removed, and much of the construction equipment, including the tower crane and hoist, has been disassembled.
Installation of dark metal railings on several upper-level setbacks has also been completed, showcasing the building’s modern design. The main façade rendering highlights the building’s eastern elevation and a series of setbacks which will feature beautiful landscaped terraces. The architectural elements will closely align with those seen on the adjacent 80 Clarkson Street towers, also designed by COOKFOX.
The overall construction cost of 570 Washington Street is projected at $179 million. This financial undertaking is primarily supported by $80 million in HOME and city capital funds from the New York City Department of Housing, Preservation, and Development. Additional financial backing includes a $60 million construction loan from Citi Bank, alongside a $65.5 million Freddie Forward Permanent Mortgage.
Access to the apartments will be aimed towards households earning 50% of the area median income and below, ensuring affordable living in a prime location.
Future residents of 570 Washington Street will enjoy an array of residential amenities totaling 5,600 square feet. These amenities include a community room featuring a warming kitchen, a health and wellness center, social service offices, meeting rooms, a computer room/library, and a fitness area. Additionally, on-site supportive services will be offered, including case management and programming facilitated by the Jewish Association Serving the Aging. The Settlement Housing Fund will serve as the project’s administrative agent.
The building is not only focused on providing affordable housing but is also designed with sustainability in mind. It aims to achieve LEED Gold certification and complies with Zone Green and Local Law 97 regulations. This includes the implementation of energy-efficient systems and green roofs, contributing positively to the surrounding environment.
Residents will find accessibility to public transport easy, with the nearest subway station being the 1 train at Houston Street to the east. As construction nears completion, further developments will be keenly observed, culminating in the opening of 570 Washington Street by the end of 2026.
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