100 Franklin is my kind of project. Developed by DDG Partners, 100 Franklin is a small boutique condominium project that was completed last year in New York’s Tribeca. From what I can tell, there are only 10 residences in the project, ranging from 1,427 to 3,673 square feet.
A number of things are interesting about this project, particularly when you compare it to how and what we typically build in Toronto.
One, it’s kind of an awkward site. It is made up of two triangular lots that one could have easily dismissed as being not all that developable. (Granted space is a precious commodity in Manhattan.) But DDG made it work (they have an in-house design team). They also managed to stitch the two buildings together so that they read as one big awesome street wall.
Two, it’s only about 30,000 square feet. I mention this because, you don’t see a lot of development at this scale here in Toronto. With entitlements taking as long as they do (among other reasons), it can be a real challenge. So if you’re not capital constrained, you may as well take advantage of the economies of scale associated with going bigger.
Three, I think it speaks to differing cultural attitudes around housing. By Toronto standards, these are very large suites. The average size of a new condominium in downtown Toronto is probably somewhere in the low 600s (square feet). I think that tells you a lot about who is buying and how they think about living in a multi-family building.
Image: Robert Granoff via DDG Partners