The Daily Dirt: Who wants to redevelop Bellevue?

"The shelter will close by the end of April. Therein lies a real estate opportunity. The Department of Homeless Services and other agencies are working on a long-term redevelopment plan, the mayor's press release said. So, what should the city do with 400 East 30th Street? It's between First Avenue and the FDR Drive, which could allow for nice views of the East River."

"As-of-right, with enough affordable units (which are necessary anyway to get the 485x tax break), a developer could build 650,000 square feet, including 542,000 market-rate, Parry calculated. The height could be 255 feet with a chance for a 25 percent bump to 319 feet, topping the 276-foot-tall building to the south. But upzone to R-10 and now we're talking 960,000 square feet, with 800,000 market-rate."

"Superstructures Engineers & Architects did an assessment of it in 2019 at the request of the city. Today, a concept is on the table to remake the building into a shining example of what a homeless shelter could and should be' and we're proud to have contributed to its first step toward rehabilitation, the firm wrote. That obviously never came to fruition."

A building at 400 East 30th Street that opened in 1931 as Bellevue Hospital's psychiatric ward and has served as a city-run homeless shelter will close by the end of April due to severe disrepair. Mayor Zohran Mamdani announced the closure and indicated the city is developing a long-term redevelopment plan for the site. The location between First Avenue and the FDR Drive offers valuable East River views and proximity to the Alexandria Center for Life Sciences. Real estate analysts suggest significant development potential, with calculations showing possible construction of 650,000 to 1.44 million square feet depending on zoning changes, including substantial market-rate housing units. Previous city plans to rehabilitate the building as an improved shelter facility never materialized.

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