By Joel Scanlon
The urban development division of Toll Brothers, Toll Brothers City Living and global private investment firm Starwood Capital Group that they have been chosen by the Board of Directors of Brooklyn Bridge Park to develop and construct a condominium with 159 residences under the Toll Brothers City Living Brand next to the Pier 1 in Brooklyn Bridge Park. The site will also contain a hotel with 200 rooms under the Starwood Capital 1 Hotel brand.
Aerial Rendering of Luxury 1 Hotel and Residential Complex at Brooklyn Bridge Park. (PRNewsFoto/Toll Brothers City Living; Starwood Capital Group)
The development will offer clean sweeping views of lower Manhattan, the Statue of Liberty and the New York Harbour. It will also provide direct access to the Brooklyn Bridge Park along the East River edge. The project will cover a total area of 550,000 sq.ft including 16,000 sq.ft for outdoor and indoor restaurants, 2,000 sq.ft for retail space, 16,000 sq.ft for banquets and meetings and 6,000 sq.ft for underground parking, spa and fitness centre. Both the hotel complex and the residential condominium are being designed by Roger Marvel Architects. The project is being designed in compliance with the requirements for LEED Silver Certification.
The 97 year old ground lease agreement will be undertaken by the joint venture under which the parties will be required to fund the construction, maintenance and operation of the restrooms and landscaping in the park. The residential building and hotel are likely to be opened by the Fall of 2015.