Hochul Selects Developers to Build 1,127 Housing Units in Hell’s Kitchen
The development team will transform a parking lot near the Intrepid Museum into two towers featuring affordable housing
By Amanda Schiavo July 15, 2026 1:12 pm
reprints
A parking lot near the Intrepid Museum along the Hell’s Kitchen waterfront is about to become housing.
Developers Gotham Organization, Fisher Brothers and Mural Real Estate Group have been chosen by Gov. Kathy Hochul to transform the 50,584-square-foot parking lot at 621 West 45th Street into two residential towers containing about 1,127 new homes, the governor’s office announced Wednesday. Crain’s New York Business first reported the news.
Hochul announced in February of last year that she wanted to turn the state-owned parking lot along the West Side Highway — which is currently being used by the Intrepid Museum — into a residential development to help dent the city’s housing shortage.
“The West Side of Manhattan has a storied history as a vibrant, inclusive community, and I’m committed to strengthening that legacy by building for a more affordable future,” Hochul said in the 2025 announcement. “By transforming this underutilized state-owned property into a dynamic mixed-use development with a significant affordable housing component, we’re taking aim at low housing supply in a high-demand area and building a stronger community for residents in Hell’s Kitchen and beyond.”
Gotham, Fisher and Mural will redevelop the lot into two connected residential towers that will feature 1,127 units, with some 338 being set aside as affordable housing for those earning between 40 percent and 130 percent of the area median income, Crain’s reported. The total will include 108 for-sale condo units, with some 28 set aside as affordable housing.
“Gotham has spent decades partnering with government, community organizations, and mission-driven institutions on the West Side of Manhattan to deliver housing that serves New Yorkers across the income spectrum, and this project builds on that legacy,” David Picket, CEO of Gotham, said in a statement to Commercial Observer. “This transformative development will deliver hundreds of permanently affordable homes, including homes for veterans and opportunities for middle-income homeownership, while creating a dynamic civic destination that benefits both residents and the surrounding neighborhood.”
The development will also feature retail space and a replacement parking lot for the museum, as well as a new 22,641-square-foot community facility across the West Side Highway that will be part of the Intrepid and feature a visitors center, cafe and STEM education hub. FXCollaborative is the architect on the project.
Spokespeople for Fisher and Mural did not immediately respond to CO’s requests for comment.
“This is an extraordinary opportunity to transform a state-owned asset into a thriving residential and mixed-use development that meets the needs of New Yorkers while enhancing the vibrancy and diversity of the Hell’s Kitchen neighborhood,” Hope Knight, president, CEO and commissioner of Empire State Development, said in 2025. “By repurposing this underutilized site, we can deliver affordable housing, create engaging public spaces, and catalyze economic growth in one of Manhattan’s most dynamic communities. ”
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
