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The developer originally put 16 condominiums on the market, but when the market softened last year, the building was switched to a rental structure.
At a 16-story rental structure planned at 306-308 East 38th Street, between First and Second Avenues, where there will be 140 apartments, 70 units will be for extended-stay residents.
What the new rental structure shows is that "we are building on a sense of community that turned a once bleak tract into a thriving downtown community," Mayor James M. Cahill said in a statement when he announced the project at a news conference last November.
"Both sides are confident that we will reach an agreement on a rental structure that is fair and reasonable and reflects the interests of both Coventry City Football Club and ACL," he added.
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Image caption David Behar's work, in the Professional Architectural category, focuses on cabana rental structures on Miami Beach.
The project would require the demolition of an equipment-rental structure prior to construction, a phase that could begin as early as the end of this year, said Senior Planner Brian Foote.
The party said: "As it stands, the private rental market is structured in a way that benefits landlords over tenants, and treats homes as investment vehicles.
Rising above the new Van der Donck Park is Larkin Plaza, which will consist of two towers with 440 rentals and a two-story retail structure.
Nor does the structure of rental leases help retailers.
A vast new passenger terminal would be built, as would a structure where rental car operations would be consolidated.
The structure of rental markets coupled with the design of the Housing Choice Voucher Program (HCVP), the largest federal housing subsidy for low-income families in the United States, provides the opportunity to overcharge voucher holders.
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