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The development team also announced that Hamilton Lane, a global alternative investment management firm, has signed a lease to occupy 130,000 square feet at Seven Tower Bridge beginning in 2021.
The W.T. The W.T. Waggoner Building at 810 Houston St. is set to become the second Sandman Signature Hotel in the United States, and Sandman is a chain owned by Canada-based Northland Properties.
Property benefits include a HUD Project-Based Section 8 contract for rental assistance and HPD Article 11 regulatory agreement, a tax incentive for new construction or rehabilitation of affordable housing.
Located at the southwest corner of Montrose Avenue and Bernard Street, on formerly vacant land, the new five-story building has 32 one-bedroom and 16 two-bedroom apartments, which are nearly fully occupied.