Design and Construction Report staff writer
New York City is moving ahead with a public review of a plan to redevelop the city-owned 100 Gold Street site in Lower Manhattan into nearly 4,000 homes, including about 1,000 permanently affordable, rent-stabilized units.
The updated proposal adds roughly 300 homes to earlier estimates as the city seeks to increase housing on publicly owned land.
The site currently contains an aging office building housing several city agencies, including the Department of Housing Preservation and Development. Under the redevelopment plan, those agencies would move to modern office space.
The city selected GFP Real Estate through a competitive request for proposals process to redevelop the property. The project is expected to be financed through cross-subsidy, with no direct city funding. Proceeds would help cover the relocation of city agencies.
“The project at 100 Gold Street is on track to help address the housing crisis while improving the lives of countless hardworking New Yorkers,” Gary LaBarbera, president of the Building and Construction Trades Council of Greater New York,said in a statement. “Through collaboration with GFP Real Estate and City partners, this redevelopment will deliver thousands of much-needed affordable homes and an opportunity to create family-sustaining union careers for our city’s tradesmen and tradeswomen.
”The mixed-use development would also include a new older adult centre to replace the facility operated by Hamilton-Madison House, about 40,000 sq ft. of public-realm improvements and a 40,000-sq. ft. publicly accessible commercial fitness centre with community programming and other neighbourhood amenities.
The redevelopment is part of Mayor Zohran Mamdani’s plan to increase housing construction on city-owned land.
The administration’s Block by Block housing plan, released in May, calls for 200,000 new affordable homes and the preservation of another 200,000 over the next decade, supported by $22 billion in affordable-housing capital funding over five years.
The city also launched its Land Inventory Fast Track (LIFT) Task Force to identify and accelerate housing development on city-owned sites. A LIFT Tracker released in July identified more than 100 city-owned properties that the administration says could support more than 50,000 homes.
The 100 Gold Street project is expected to provide nearly twice as many permanently affordable homes as were built in Manhattan Community District 1 during the previous decade, according to the city.
The project has been shaped through a competitive RFP process and engagement with elected officials, Manhattan Community Board 1, community organizations and other stakeholders.
A scoping hearing is scheduled for next month to begin the formal environmental review. The environmental review is expected to continue through the fall, with the project anticipated to enter New York City’s Uniform Land Use Review Procedure in 2027.
The public review process will provide further opportunities for residents and other stakeholders to comment on the proposal.
In the first six months of 2026, the administration said it financed the creation or preservation of 12,491 affordable homes, including more than 2,000 for formerly homeless New Yorkers.
