100 Gold Street. Photo courtesy of NYCEDC
The city is looking for a developer to raze and replace an aging government building in the Financial District with over 1,000 apartments. On Wednesday, Mayor Eric Adams, the New York City Economic Development Corporation, and the Department of Housing Preservation and Development issued a request for proposals (RFP) to transform 100 Gold Street into a mixed-income residential building. Currently, the nine-story office tower is occupied by several city agencies, with most of the space utilized by the housing department.
Located at the corner of Gold Street and Frankford Street, the building has 525,000 square feet of offices for Housing Preservation and Development, the Mayor’s Office, Department of Education, Department of Citywide Administrative Services, Parks and Recreation, GrowNYC, and the Office of Collective Bargaining.
The Hamilton Madison House Older Adult Center takes up about 18,000 square feet in the basement and serves hundreds of New Yorkers. As part of the plan, the city wants a new, purpose-built facility for the Older Adult Center.
The city plans to use the proceeds from the parcel’s sale to acquire relocation space for the agencies. Agencies will not be relocated until 2029, after new office space is found, with construction of the new development not scheduled until 2030, following a four-year public review process.
The existing Brutalist-style building was constructed in the mid-1960s and acquired by the city in 1993. According to the city, the outdated space could cost $230 million to bring it into a state of good repair, making it “unsuitable for conversion.” The selected developer will likely need to demolish the building and replace it with a new structure.
Adams originally announced plans for 100 Gold in his State of the City address in January. He said the development would include “over 2,000 new homes…steps away from City Hall.” No details have been announced on the building’s exact building unit count or height, which will likely be determined during the public review process.
The project will have a minimum of 25 percent affordable units.
“NYCEDC, in partnership with HPD, is thrilled to lead the redevelopment of the city-owned site at 100 Gold, which will deliver over 1,000 units of mixed-income housing in the heart of Lower Manhattan,” Andrew Kimball, president and CEO of NYCEDC, said. “Addressing New York City’s ongoing housing crisis requires bold strategy and strong partnership, and identifying city-owned sites to transform into state-of-the-art mixed-use buildings is a fundamental piece of this solution.”
The city is also looking for proposals to improve the surrounding streetscape with landscaping and public art, as well as ground floor retail.
Proposals are due June 5 and a developer is expected to be selected by the end of the year. The uniform land use review procedure (ULURP) could kick off in 2027.
This past summer, Adams signed an executive order requiring city agencies to review city-owned and controlled land for possible housing development, part of a larger plan to bring 100,000 new homes to Manhattan. Projects include 395 Flatbush in Downtown Brooklyn, Coney Island West, Gansevoort Square in the Meatpacking District, 388 Hudson in Hudson Square, the Grand Concourse Library in the Bronx, and St. George on Staten Island. More public sites will be announced later this year.
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