TF Cornerstone hasn’t been on the record about its plans for the area and didn’t respond to a request for comment from Crain’s. Earlier this year, however, a community newspaper reported on the firm’s proposal for West Chelsea, partially shared during a meeting with community members.
The firm appears to be planning a two-building residential complex, according to Chelsea Community News. A 14-story building would include 130 units and five ground-floor retail spaces, while a seven-story counterpart would have 40 units and a 35-car parking garage underground.
TF Cornerstone would look to complete the project by mid-2026.
I have lived less than a block away for 25+ years, and I am 100% in favor of demolishing the movie theater and building apartments. The front end and particularly the ass-end of the theater complex have been a blight for many years. The block-through lot between 23rd and 22nd St is a perfect opportunity for two towers.
I’ll be a little sad to see the old Broadway Savings Bank go, but that sort of building seems hard to employ these days. Its single best feature may be the clock, which is salvageable.
