Chelsea Could Get a 35-Story Rental Tower With 78 New Homes
New York | October 22, 2026: A commercial property on West 29th Street in Manhattan’s Chelsea neighbourhood could soon be replaced by a 35-story residential tower with 78 rental apartments, according to newly filed development plans.
The proposed project at 212 West 29th Street, between Seventh and Eighth Avenues, would rise approximately 353 feet and add more than 44,000 square feet of residential space to the site. The location is also close to the 28th Street subway station, giving the planned homes access to one of Manhattan’s major transit corridors.
78 Apartments Planned in 35-Story Tower
The proposed building is expected to contain 78 residential units across 35 floors.
The planned residential area is approximately 44,039 square feet, putting the average apartment size at around 564 square feet. That unit profile indicates the project is likely to be positioned primarily as a rental development.
The building is planned with a concrete structure, a cellar and a rear yard extending about 30 feet.
Existing Commercial Building Could Make Way
The development site currently contains a four-story commercial building constructed in 1920.
Property records indicate that the parcel covers approximately 2,419 square feet, while the existing structure contains around 9,212 square feet of space.
Demolition plans for the existing building were filed in September, setting the stage for redevelopment of the site.
Chelsea's Development Potential Is Expanding
The project comes as zoning changes in the broader Midtown South area have opened the door to greater residential development.
The Midtown South Mixed-Use Plan expanded residential development opportunities across a large section of Manhattan, allowing higher-density projects in areas where older zoning rules had limited housing construction.
For developers, these changes have created opportunities to replace older commercial properties with significantly larger residential buildings.
Why the Location Matters for Buyers and Renters
The proposed tower sits between Seventh and Eighth Avenues and just one block from the 28th Street subway station on the 1 train.
Its location puts future residents close to Chelsea's established commercial, retail, dining and entertainment areas while also providing direct subway access.
For renters, the addition of 78 apartments could bring more housing supply to an area where residential demand remains strong.
What It Means for Manhattan Property Owners
The proposed development also illustrates the redevelopment potential of smaller commercial parcels in high-demand Manhattan neighbourhoods.
A low-rise property can carry significantly greater development potential when zoning permits a higher-density residential project. As zoning rules continue to evolve, owners of older commercial buildings could increasingly evaluate whether redevelopment offers greater long-term value than maintaining existing structures.
For investors, such projects also highlight how zoning changes can reshape the value of individual development sites.
What Happens Next
The project is currently at the planning and permitting stage, with the latest filing identifying a 35-story, 78-unit residential development.
No completion date has been announced so far. The next key milestones will include the project's approvals, demolition of the existing structure and the start of construction.
If completed as proposed, the tower would add another significant residential project to Chelsea and further contribute to Manhattan's growing pipeline of high-density rental housing.