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SL Green Partners to Build New Dorm Tower at Pace University

SL Green has entered into a joint venture to build a 30-story student housing tower for Pace University at 33 Beekman St. in downtown Manhattan. SL Green has teamed up with Harel Insurance and Finance and Naftali Group on the project. The group acquired the fee interest in the development site. Once construction is complete, Pace will receive a long-term ground lease condominium interest in the building for the dorms and retail space. The project is reportedly slated for completion in 2015. Gene Kaufman Architect was selected to design the project. [read more at Northeast Real Estate Business.com].