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RFR/Davis breaks ground on two First Ave. developments.

In a rare occurrence, but one consistent with its reputation as New York's most active residential developer, RFR/Davis has simultaneously broken ground on two new luxury rental apartment projects on Manhattan's Upper East.

The larger of the two developments, to be known as The Impala, is a distinctive three-building, 216-unit complex rising on the easterly blockfront of First Avenue between 75th and 76th streets. It will be anchored by a 31-story high-rise that fronts First Avenue and interconnects through a central outdoor landscaped courtyard with its two seven-story sister buildings on 75th and 76th streets.

The other project, named Century Tower, is a 23-story, 128-unit apartment building now underway at the southeast corner of First Avenue and 90th Street.

Both mixed-use developments will feature ground floor retail facilities, garage parking, upscale finishes and amenities, and a wide variety of apartment layouts.

H. Thomas O'Hara, the design architect for Century Tower, was architect of record for both developments. Michael Graves was the design architect for The Impala and also designed the interior public spaces for both projects.

"There is tremendous demand today for quality rental apartments on the Upper East Side, particularly from your professionals, and we believe these exciting new projects address that need," said developer Trevor Davis, who together with partners Aby Rosen and Michael Fuchs form the RFR/Davis team.

While their anticipated openings will be relatively close - Century Tower in the Winter of 1999 and The Impala in the Spring of 2000 - their outward appearances will markedly different. The $95 million Impala complex will sport an abstract facade that features large square windows, pre-cast panels set into a brick facade and capped by pre-cast cornices. The $50 million Century Tower will boast a traditional masonry facade that blends three different colors ranging from a deep rose to a medium red.

Construction and permanent financing for both projects are being provided by a combination of domestic and overseas banks and financial institutions. No rental prices have as yet been formulated.

One of New York's busiest apartment developers, RFR/Davis recently completed the 227-unit Eastbridge Landing at 33rd Street and First Avenue and will soon open Wellington Tower, a 147-unit residence at 82nd Street and First Avenue. It also will soon begin construction on two other major apartment projects on the Upper East Side, including its first luxury condominium development.
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1U2NY
Date:Jan 13, 1999
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Next Article:Massey Knakal sells mixed-use building.

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