A move like this was previewed a few months ago
, and now it's come to pass: it's being announced this morning that Forest City is selling the "Parcel O" site on the southeast corner of the 4th and Tingey
at the Yards
to PN Hoffman, who will be building a 130-unit/10 floor condo building.
The trapeze school is currently occupying the site, but they will be moving to the corner of New Jersey and Tingey once the NGA building demolition
This would be not only the first condo building at the Yards, but the first condo building in the neighborhood since Velocity
was finished back in 2009. Judging by my inbox over the years, the demand for ownership opportunities in the neighborhood is strong.
The press release about the project gives some small amount of detail: "These luxury condominium residences will echo the unique industrial past of the site both in building architecture and unit finishes. A range of residence sizes are currently planned from studios to two-bedroom units. A rooftop resident’s lounge, outdoor kitchen and fire pits, private terraces and balconies, and front desk staff are just a few of the features."
Hoffman is a busy company these days, since they are the behind the massive Wharf development in Southwest. The company has been tied to the Yards before, having been attached way back when to the renovation of Building 202
(the big red brick building now just behind Twelve12), but that project seems to be in perpetual turnaround.
This would be the fourth residential building at the Yards, following the 170-unit Foundry Lofts
, the about-to-be-completed 218-unit Twelve12
, and the aforementioned 327-unit building on Parcel N
, which needs a name desperately.