New York City’s plan to redevelop 100 Gold Street into an affordable housing project has progressed. Mayor Eric Adams announced that GFP Real Estate will lead the conversion of the Lower Manhattan site into a mixed-income residential building featuring around 3,700 units. Approximately 25% of these units are designated to remain permanently affordable, providing housing options without relying on subsidies from the city’s Department of Housing Preservation and Development (HPD).
To maximize the use of city-owned land, the Adams administration previously issued an executive order directing agencies to identify potential sites for new housing. Following this, the New York City Economic Development Corporation (NYCEDC) conducted a competitive request for proposals (RFP) process, selecting GFP Real Estate for the 100 Gold Street project. According to the Mayor’s office, the development will include housing, new public open space, an updated adult center, and a publicly accessible fitness center.
The 100 Gold Street project is designed to provide more than housing, with the goal of enhancing amenities for city employees and residents. The existing tenant, the Hamilton-Madison House older adult center, will move into a new facility aimed at improving space, accessibility, and overall experience. During construction, services will continue at a nearby temporary location to ensure continuity…