405-407 West 206th Street

Organization Name: LMXD/Taconic/MSquared

Project Title: 405-407 West 206th Street

Project Location: Inwood, Manhattan

Project Description:
405-407 West 206th Street consists of 2 interconnected mixed-income & mixed-use buildings located in the Inwood neighborhood of Upper Manhattan. Together, the buildings at 405 and 407 West 206th Street will have a mix of studio, one-, two-, and three-bedroom apartments and contain a total of 698 residential units. Forty percent of the apartments are reserved for residents earning at 40-80 percent of the Area Median Income which in total will averaging to 60% of AMI. An additional ten percent of apartments will have rents restricted up to 120 percent of AMI and be subject to NYC Rent Stabilization Guidelines. The remaining units will be market rate apartments. The buildings will be highly amenitized, featuring onsite parking, three landscaped courtyards, a 24/7 attended lobby, multiple roof-decks, fitness center (with individual studios), a wellness space, co-working spaces, lounge spaces including media lounges, several game rooms and party rooms, and music rehearsal rooms.

Community Impact:
The People’s Theatre Project’s (PTP) “Centro Cultural Inmigrante”, will be located at 405-407 West 206th Street. Audiences will experience theatrical performances that center and explore the breadth of immigrant experiences represented in New York City, enjoy live music, dance performances, film screenings, and other civic and community events. For children and families, the center will offer classes, festivals, and student matinees fieldtrips. PTP also will partner with the New York Public Library (NYPL) to provide research and literary programming that will allow community members to explore the immigrant experience through scholarships and the performing arts. The buildings will also include a 20,000 sf grocery store part as of the city’s Food Retail Expansion to Support Health (FRESH) program providing health and affordable food options to the community. The project will also be pursuing a LEED BD+C Silver certification along with meeting the new sustainability standards established by New York State Homes and Community Renewal in 2022. In addition the affordable tenants will be offered free broadband, delivering high-speed internet helping to close the digital divide for lower-income New Yorkers.

Organization Description:
LMXD, an affiliate of L+M Development Partners, is a double bottom line company focused on developing mixed-income housing. L+M is responsible for ~$10B in development, construction, and investment. MSquared, a women-owned real estate development & impact investment platform, is focused on building projects that embrace diversity, support women & families, and create healthy interconnected communities. Taconic Partners has developed over 12M SF of office, mixed-use, and retail space, with close to 6,500 units of multi-family housing, totaling over $5B.

Team Members:

Development Team: LMXD/Taconic/MSquared
Architect: Beyer Blinder Belle Architects
General Contractor: Chatsworth Builders