AvalonBay's 1865 Broadway and rendering of a 34,000-SF Target store coming to its podium (AvalonBay Communities / Target)
Today, the retail giant Target announced plans to open a new small-format urban store in NYC, this time near Columbus Circle at the corner of West 61st Street and Broadway. The 34,000-square-foot store will open in 2019 inside the base of a now-under-construction high-rise at 1865 Broadway. The announced location is one block from Central Park, near the crossroads of Midtown, Hell's Kitchen and the Lincoln Square area of the Upper West Side.
The planned store will be Target's 28th outlet in New York City and comes on the heels of a new East Village location in the base of the recently-opened rental EVGB. According to a press release from earlier today, the store will be designed to meet the needs of a wide audience, visitors and residents alike. Mark Schindele, SVP at Target Properties says, “We’re thrilled to continue growing our footprint throughout New York City with small-format stores that provide local families, commuters and visitors with a convenient, one-stop shopping experience.”
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Street-level rendering of Target's planned new small-format store (Target)
The new store will have a food and beverage selection that includes fresh produce, grab-and-go options, and snacks and meal solutions. There will also be areas devoted to health essentials, beauty products, apparel and accessories, and home décor. Evolving with today's trends of online shopping, Target notes that 95% of orders placed online will be ready for pick-up within an hour.
1865 Broadway is a ground-up mixed-use development being built by AvalonBay Communities. In addition to retail space, the building will host approximately 175 condominium and rental residences across its upper 33 floors. Target will anchor roughly half of the 70,000 square feet of retail space offered. The project replaces the former headquarters of the American Bible Society which the developer purchased for $300M in early 2015. AvalonBay has yet to release details on the residential components but city documents show buyer/renter perks are to include a fitness center, swimming pool, a game room, several lounges, a communal pantry, and a roof terrace. Occupancy is slated for the first quarter of 2019.
“We are thrilled to have Target in the project. The store will be a great amenity for our residents at 1865 Broadway. Our building offered Target unique access to day-trippers, tourists and one of the most affluent demographics in the country. In addition, the building is just one block from The Shops at Columbus Circle, one of the highest performing malls in the country,” said Martin Piazzola, senior vice president, AvalonBay Communities, Inc.
Renderings from 1865 Broadway retail brochure via JLL / AvalonBay
Construction at 1865 Broadway as of early October (CityRealty) and rendering of retail podium (via JLL)
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