HAP Investments, a New York-based international real estate investment and development company announced the ground breaking for a new Washington Heights rental project.

The site is  located at 655-667 West 187th Street in Washington Heights and will comprise a multi-story building, containing 47 apartments. Karl Fischer will serve as the architect of record.

“This will be a unique residential building and a great addition to Washington Heights. We look forward to progress on construction and are excited to partner again with Karim Rashid on creating another premier New York City property,” said Eran Polack, CEO, HAP Investments.

Construction will employ a modular building system developed by Deluxe Building Systems of Berwick, Pennsylvania. The DBS method reduces construction time and  extends the capabilities of system-built construction. Components are produced by full-time professionals within a controlled environment while protected from extreme weather conditions. Construction will be 40 percent faster than the traditional method, and will be environmentally friendly with reduced material waste and lower impact on site surroundings.

HAP Investments has been very active in Upper Manhattan, Washington Heights, East Halem and Inwood areas with properties including: 329 Pleasant Avenue, 419 East 117th Street, 247-249 East 117th Street, 2338 2nd Avenue, and 1655 Madison Avenue.

In addition, the company purchased a major development site at 215-219 West 28th Street in New York City’s Chelsea neighborhood, and now will develop 655-667 West 187th Street.

HAP previously announced that it is in contract to purchase a prime development site at Journal Square in Jersey City, New Jersey, with plans to construct a large residential tower.