The Vessel at HudsonYards.

|

NEW YORK CITY-  RelatedCompanies, a national privately-owned real estate firm, has entereda joint venture with Atria Senior Living, development companySpitzer Enterprises and Welltower Inc. on a partnership to developan upscale senior living community at 451 10th Ave. in Hudson Yards. The property is anticipatedto be the first of its kind on the East Coast. 

|

Related and Atria formed the"Related|Atria JV" joint venture in 2018 to develop, own andoperate modern urban communities catering to seniors living inmajor metropolitan areas, and as a result, came the development of451 10th Ave. The development intends to give seniorsaccess to the amenity dense community that is HudsonYards.  Development for the project began in late 2019 andis dated for completion in 2022.

|

Welltower, an S&P 500 healthcare infrastructure companyheadquartered in Toledo, Ohio, is the long-term strategic capital partner forthe Related|Atria JV for both 45110th Ave.and the previously announced 1001 Van Nessproject in San Francisco. The HudsonYards project is Welltower's third senior living community inManhattan. 

|

Atria, a provider of high-qualitysenior living, will manage the community and currently providessenior living services to more than 4,000 New Yorkers across its 27communities in the state.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.