New design plans are out for a seven-story residential building coming to 312-322 Canal Street in Tribeca. Developed by Trans World Equities, the project replaces a vacant two-story commercial structure with a new 24,000-square-foot development.
The project includes 21 residential units and ground-floor retail space. Architects at Paul A. Castrucci designed the building with a rectangular massing and a single setback on the seventh floor. The exterior features a bright red, trabeated terracotta facade with a grid of floor-to-ceiling windows meant to mimic the industrial character of nearby SoHo architecture.
A full-floor penthouse will occupy the top level and includes a private terrace. While residential details remain limited, the structure fills a narrow, trapezoidal lot between Broadway and Church Street. The location provides proximity to several subway lines, including the A, C, E, N, Q, R, and W trains.
Construction schedules for the project are not yet public. This addition marks another shift in the ongoing development of the corridor connecting Tribeca and SoHo.