Just one day after rumors surfaced that a new skyscraper would join Extell's 80-story Lower East Side tower on the East River waterfront, a plan for that skyscraper has arrived—and it's major. By way of The Lo-Down, word is out that JDS Development is planning a 900-foot, 77-story tower for 247 Cherry Street.

JDS will continue to lead the crusade for the ever-taller city—their projects include 111 West 57th Street and Brooklyn's first supertall—with SHoP Architects, who designed the terracotta brick and glass tower for 247 Cherry. The design has not been finalized, but its facade will likely include those materials.

The 77-story building is poised to hold about 600 apartments, 150 of which will be permanently affordable. Unlike Extell's neighboring tower and its separate building slated for affordable housing, the affordable units of 247 Cherry Street will be sprinkled throughout the tower. The building's units will include studios, one-bedrooms, and two-bedrooms.

The site the tower is poised to rise on is currently owned by the Two Bridges Neighborhood Council and Settlement Housing Fund. JDS is purchasing 500,000 square feet of development rights from the organizations for $51 million, with majority of those funds going to the nonprofits. Alexa Sewell of Settlement Housing Fund told TLD that the funds will be used to "better capitalize our organizations—so that we can get out and continue doing the kind of affordable housing and community development work that we do."

In order to accommodate the tower, a small community center on Cherry Street will have to be razed. A neighboring senior housing development will remain in place, and a portion of the tower will cantilever over the neighboring former Pathmark site. TLD says the footprint of the tower will be about 9,000 square feet.

As part of the agreement, JDS will fund upgrades to the senior center including flood-proofing the property and making upgrades to the lobby. JDS has also agreed to create a 4,600-square-foot community center for seniors in the tower at 247 Cherry Street.

The development will also ultimately include the creation of some 10,000 square feet of retail and even more community space including a plaza designed by SCAPE Landscape Architecture surrounding the tower's base.

JDS and SHoP will present the plans for the new building to the community this evening. Following, JDS will move forward with presenting the plan to City Planning. Construction at the site will not begin for at least two years.