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COVER STORY, JUNE 2006
CREATING NEW LIFE WITHIN HISTORIC STRUCTURES
Northeast developers are adapting historic properties.
Dan Marcec
In a day and age where the words “newer and better” have become synonymous, our nation’s historic landmarks often are overlooked or destroyed to make way for the ubiquitous “future.” Of course, bringing new ideas to the commercial real estate market is an important part of the industry’s progression, but in doing so, the past need not be forgotten or demolished. Thus, developers across the Northeast are recognizing the opportunities inherent in adapting dilapidated historic sites. With land becoming more and more scarce throughout the region, reusing these historic properties is imperative not only in the scheme of practical commercial real estate business, but more importantly, in maintaining the landscape our country’s rich and diverse history. Northeast Real Estate Business recently spoke with four developers and architects regarding their specific adaptive re-use projects, gaining insight into this significant trend.
The Octagon
New York City
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Becker + Becker Associates has adapted the historic Octagon Tower on Roosevelt Island in New York City as part of a new 500-unit rental residential community on the East River waterfront.
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Every adaptive re-use project comes with its challenges, from dealing with government agencies to designing new features within structures that often are dilapidated. Becker + Becker Associates, developer and architect of The Octagon, certainly faced many of these difficulties when rebuilding this historic property on Roosevelt Island in New York City. In fact, the firm cycled through more than 20 different conceptual designs before landing on the one that appeased the national parks service, which awards historic tax credits, as well as the state historic preservation office, which has jurisdiction over the state-owned property.
“Historic preservation is the niche I have pursued as an architect and developer, and I think our firm has the most value in undertaking complex redevelopment projects involving the condition of an historic building,” says Bruce Becker, president of Becker + Becker Associates. “I enjoy the challenge, but I also feel there’s greater value in preserving important elements of American history and architectural history through adaptive re-use and preservation, particularly when so much history is being lost and so much of the new construction lacks character.”
The Octagon tower, the piece of the property being rebuilt, formerly was the administrative building for the New York Pauper and Lunatic Society, which was constructed around 1840; the structure later was utilized for the Metropolitan Hospital. The scope of the redevelopment includes a complete restoration of the Octagon tower, a state and city landmark on the National Register of Historic Places that has been through two fires and had fallen into a state of ruin. The tower itself encompasses approximately 30,000 square feet, and basically all that was retained were the exterior walls. A completely new steel structure has been added on the inside, and the exterior has been remodeled with stone and a slate dome.
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A view of the historic Octagon Tower, circa 1897, which was the administrative building for the New York Pauper and Lunatic Society.
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The reconstructed tower serves as a gateway to The Octagon, containing all the common areas for the 500-unit rental apartment community, which encompasses a total of almost 500,000 square feet. The common amenities include a 2,200-square-foot fitness center, several galleries, a mail room, a weight room, management offices, a business center and conference rooms. The remainder of the development is new construction, with the new wings of the project situated directly in the footprints of the old hospital wings. In addition to the studios, one-, two- and three-bedroom apartments, the development also features 130 underground parking spaces, six tennis courts, a child care center and a waterfront park. The project broke ground in November 2004 after extensive planning, and the first residents occupied the building in April.
“The preservation of this landmark is one of the most unique aspects of this project,” Becker says. “I don’t know of any building that was in such devastation that could be restored and added to in such a significant way; though not much of the original hospital was left when we started, restoring this property and maintaining it’s historical significance was important.”
Other unique features of The Octagon include the sustainable design elements employed in its construction. The project is set to receive a Silver Leadership in Environment and Energy Design (LEED) certification, and it is designed to use 35 percent less energy through rooftop solar panels that generate 50 kilowatts of power, enough to supply electricity to the Octagon Tower and the parking garage. In addition, The Octagon meets a demand for housing. The master plan for Roosevelt Island created in 1969 allowed for a population of 50,000, whereas only 10,000 people live on the island today.
“Certainly the green design and adaptive re-use angles have advanced marketing to some, but at the same time people asked ‘Why not just destroy the building?,’ or ‘Who will want to live in a former asylum?’,” says Becker. “Yet we’re proud to have embraced the history of this building and used principles of sustainable design; though it was a risk in an uncertain market, we’ve done well thus far and those already committed to renting are very enthusiastic.”
For more information on The Octagon, please visit www.octagonnyc.com.
The Beacon
Jersey City, New Jersey
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Metrovest Equities is restoring a historic property in Jersey City, New Jersey into The Beacon, a 10-building residential community.
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On the site of the former Jersey City Medical Center, Metrovest Equities is developing The Beacon. Consisting of 1,200 residential units in 10 high-rise buildings, and ample amenity and retail space, the project will include a total of approximately 2 million square feet upon its completion. Currently, Metrovest is underway on Phase I, which includes The Rialto and The Capitol, the first two residential buildings, as well as all the retail space. In all, Phase I includes 315 units and 80,000 square feet of retail; completion on this phase is expected in March 2007. Pre-construction on the second phase, which includes 220 units in buildings called The Mercury and The Orpheum. All of the residential structures are named after famous theaters. Overall, the build-out of the project will take 5 years, and the approximate cost is $350 million.
Originally built between 1929 and 1945, the Art Deco structures that comprise The Beacon are state of New Jersey and national landmarks. The Medical Center moved from the site to develop a new facility on a smaller scale, while the vacated buildings provided an excellent opportunity for a residential re-use, with high ceilings, interesting features and great views just blocks from the Jersey City waterfront.
“We’ve been able to have a lot of fun with the design, especially in the protected areas that couldn’t be changed or converted to apartments,” says George Filopoulos, president of Metrovest Equities. “In those spaces, we’ve created an incredible amenities package for the residents, with an indoor pool, an indoor grotto, multiple saunas, and two screening rooms. One of the most interesting amenities was created in the two secret offices of former Jersey City mayor Frank Hague, who commissioned the buildings; we built a poker room and a billiards room in these spaces, which give a great feel of the time in which they were built.”
The restoration of the buildings is relatively comprehensive. The approvals process took some time due to the site’s history, but the local communities supported the proposal, and The Beacon has become the largest historic restoration project in the history of the state of New Jersey. Other than the protected areas, the buildings have been completely gutted, and the façade is being restored completely as well. One of the interesting aspects of the new interiors is that due to the unique nature of the buildings, over 90 different floorplans have been created for just the first 315 units.
“If you’re building new today, you simply cannot provide as much amenity space as we’ve set aside for the first phase; it’s just not economically viable,” says Filopoulos. “In addition, the buildings have features that have become too expensive or that are a lost art, like the Art Deco design. You’re not going to find 30-foot interior spaces, floor-to-ceiling marble walls or terrazzo floors today, and our resident base has been people who aren’t thrilled with what they’re finding in the newer developments.”
Warwick Condominium
Philadelphia
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Allan Domb Real Estate is converting the top floors of the historic Warwick Hotel in Philadelphia to 110 luxury condominium units.
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The Warwick Hotel, located at 1701 Locust Street in Philadelphia, is a significant historic structure situated in the heart of the city just one block off Rittenhouse Square. The hotel is undertaking a $20 million update and renovation of its 290 rooms, fixtures and lobby furniture, but the top eight floors are being converted to condominiums. Allan Domb Real Estate is developing the new studio, one-, two- and three-bedroom condo units, which will be ready for occupancy in April 2007. The cost of the renovation, which will result in 110 new residential units, is approximately $60 million.
“The Warwick Hotel was constructed in 1929, and from Frank Sinatra to Muhammad Ali, most every celebrity that has come through Philadelphia has stayed at this historic landmark,” says Allan Domb, president of Allan Domb Real Estate. “The baby boomer population in Philadelphia especially has a connection with this structure, and that demographic is seeking housing of this sort in the city.”
The condominium conversion includes completely gutting the top floors, providing all new interiors. The façade is undergoing minor work, yet contrary to many re-use projects, the building has been kept relatively well over the years. The main amenity of the residences is that occupants will have all the features of a luxury boutique hotel such as a 24-hour doorman, 18-hour concierge, valet parking, room service and maid service. “It’s like checking into a hotel and never having to check out,” says Domb.
Other features of the project include a gym on the fourth floor, three restaurants — a steakhouse, a coffee shop and the hotel-run restaurant — and of course, location. With all the amenities of Center City Philadelphia within three or four blocks, living at the Warwick Condominium is like living in a village.
“The location of the Warwick and the important history behind this structure provide an excellent living opportunity in Philadelphia,” Domb says. “We’ve already received reservations for all the units just through word of mouth, which is incredible; the quality of the finishes and the amenities we’re able to provide really set this project apart.”
Chapel View
Cranston, Rhode Island
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The historic chapel at Chapel View in Cranston, Rhode Island. This building is the centerpiece of a mixed-use project under construction on the site of the former Sockanosset School for Boys.
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The former Sockanosset School for Boys, a historic reform institution located at the intersection of Sockanosset Cross Road and New London Avenue in Cranston, sat vacant since the 1970s. Carpionato Properties, under the entity Chapel Associates LLC, recently commenced development on a mixed-use project at the site, consisting of both the adaptive re-use of four buildings (three dormitories and the property’s chapel) and new construction. Cubellis Associates was selected to design the project, which is called Chapel View. The three dormitory buildings are being combined into one mixed-use structure; the chapel will be converted to a fine dining establishment; two multi-story buildings containing office, residential and retail space are being constructed; and a separate, grocery-anchored retail strip is underway as well. Overall, Chapel View encompasses 375,000 square feet: approximately two-thirds of that space is retail, 70 high-end residential units are being constructed, and 65,000 square feet of office space is included as well. Completion is expected in spring 2007.
“Redevelopment of the Sockanosset School was important from the historic district commission’s point of view because this is an in tact campus significant to Rhode Island’s history,” says Anthi Frangiadis, associate principal with Cubellis Associates. “The project required a good balance between new construction and the historic elements, and both the local and state commissions did not want the new design to replicate the old structures, but they wanted a distinction between what was new and what was old.”
Both the new construction and the restored structures are subject to the jurisdiction of the historic district commission review. The newly constructed retail strip is anchored by Shaw’s Supermarket, and Johnny Rockets, Ted’s Montana Grill and Bombay Company also have signed on for the project. Fifteen of the residential units will occupy the former dormitory space, situated above office space and structured parking. The balance of the residential and office space will be in the multi-story buildings.
An interesting aspect of the site’s design is that there is a grade change of approximately 80 feet from one end of the site to the other, so Cubellis’ design called for retaining walls and stone structures to complement the development. The dramatic elevation change brings a unique dynamic to the project’s landscape.
“The benefit of creating a mixed-use development on this site is that it brings activity to this area 24/7,” says Frangiadis. “Chapel View is adjacent to a large office complex and a single-family residential neighborhood, and bringing the residential, retail and office components together within the project effects a vibrant and active community for Cranston.”
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