Affordable senior housing project next to Google’s new NYC headquarters moves forward

An affordable senior housing development in the West Village is moving forward. Jonathan Rose Companies and Atlas Capital Group last week announced they closed on financing for 570 Washington Street, a new development with 175 units of housing for seniors earning 50 percent of the area median income or less. Located next to Google’s new Hudson Square headquarters, 570 Washington is the affordable housing component of the two-tower project 80 Clarkson, which will include over 100 luxury condos.

The total development cost of 570 Washington is $179 million, with the city’s Department of Housing Preservation and Development providing $80 million. Additional financing includes a $60 million Citi Bank construction loan and a $65.5 million Freddie Forward permanent mortgage.

Designed by COOKFOX and SLCE, the 17-story building will offer 5,600 square feet of amenity spaces. These include a community room with a warming kitchen, a health and wellness center, dedicated social service offices, meeting rooms, a computer room and library, and a fitness room.

Residents will have access to on-site supportive services, including case management and group programming, provided by the Jewish Association Serving the Aging (JASA). Settlement Housing Fund will serve as the administrative agent for the project.

“As our city’s aging population continues to grow rapidly, quality affordable housing is crucial to ensuring older New Yorkers can age with dignity,” Kathryn Haslanger, CEO of JASA, said. “Not only will residents be able to live in thoughtfully-designed apartments with top-notch amenities, but they’ll have direct access to group programming that allows them to remain independent and keep active in their community.”

The project aims for LEED Gold certification and will comply with Local Law 97’s carbon emission cap. Sustainable features include an energy-efficient heat pump heating and cooling system, water-preserving fixtures, efficient LED lighting, and stepped green roofs, demonstrating Rose Companies’ commitment to sustainable building practices.

The full city-block condominium 80 Clarkson will include over 100 luxury homes across the two towers. As the New York Post reported earlier this month, Atlas Capital Group landed a $985 million construction loan for 80 Clarkson, meaning the project will soon rise.

The development is directly north of Google’s new COOKFOX-designed headquarters at the site of the former St. John’s Terminal, where the High Line used to end.

In early 2022, Zeckendorf Development, Atlas Capital, and the Baupost Group purchased the property for $340 million, with a projected $1 billion sellout for the residences, according to Yimby. The property is slated for completion in December 2026.

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