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Rockrose strikes compromise.


Rockrose Development Corp. has agreed to a compromise plan to preserve a portion of 211 Pearl St., a building that sits on the site of a new residential development at 2 Gold Street in lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North .

The agreement -- worked out among Rockrose, the New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 Housing Development Corp. and the New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 State Historic Preservation Historic preservation is the act of maintaining and repairing existing historic materials and the retention of a property's form as it has evolved over time. When considering the United States Department of Interior's interpretation: "Preservation calls for the existing form,  Office -- calls for the facade of 211 Pearl St. to remain intact above the first floor, with an opening in the first floor providing vehicular access to and from the garage of the new apartment house.

Rockrose is developing a 650-unit residence at 2 Gold St., which will include a public plaza on Gold Street and Platt Street. The building is anticipated to be ready for occupancy in early 2005.

The five-story building at 211 Pearl St. is not a landmarked structure. However, some members of the community believe the building is of historic and architectural interest as a representative of the Greek Revival style that characterized many early 19th century buildings in lower Manhattan The following is a list of buildings in Lower Manhattan, particularly New York City's financial district, and especially Wall Street. Wall Street
  • 1 Wall Street (Bank of New York Building, formerly Irving Trust Building) http://skyscraperpage.
.

Last December, after Rockrose already had obtained a demolition permit for 211 Pearl St., the New York City Landmarks Preservation Commission The New York City Landmarks Preservation Commission is the New York City agency charged with administering New York's Landmarks Preservation Law.

New York City's first landmarks legislation was enacted in 1965, prompted by the demolition of the original Pennsylvania Station,
 requested that Rockrose voluntarily refrain from demolition for 30 days while the Commission studied the issue. Rockrose agreed. When the 30-day period expired, the commission took no further action but suggested that perhaps a compromise could be reached.

The ground floor at 211 Pearl St. formerly housed a tavern, and its facade had long been altered from its original design. Only the upper floor facades retain architectural interest.

Rockrose, in a public statement, says: "We are happy to reach an accommodation in the interests of preservation that will not jeopardize the plan to bring much needed new housing to downtown Manhattan."

Demolition of all but the facade of 211 Pearl St. is expected to begin immediately.
COPYRIGHT 2003 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Apr 23, 2003
Words:308
Previous Article:Cushman & Wakefield launches Concordis Real Estate.
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