Nestled at the intersection of Soho, Greenwich Village and Tribeca, Hudson Square is seeing a wave of condominium projects that could define it as a cheaper option for luxury housing in the area.

In the wake of a 2013 rezoning, the waterfront neighborhood, also known as West Soho, has been primed for residential development. Over the last four years, the median sales price there has climbed 29 percent, data compiled by appraisal firm Miller Samuel shows. And as the post-industrial enclave has become a hub for creative agencies and media companies, more big businesses are setting up shop, which will drive up the need for housing.

With pricier properties to the north, south and east, though, big-time developers are banking on the allure of buyers getting more space for their buck in Hudson Square. For the time being, prices there start below $2,500 per square foot, while condos in surrounding neighborhoods can easily go for more than $5,000 a foot.

Gary Barnett’s Extell Development is leading the first round of large residential projects with its 92-unit condo development at 70 Charlton Street, which launched sales in 2015, while three other residential towers on the same street are in the works.

Extell and other developers, including Toll Brothers and Cape Advisors, have played up the relative affordability as a selling point. But the cycle of rapid development is a sign it’s unlikely to last, and the projects, while priced lower, are by no means cheap. A four-bedroom unit at 70 Charlton, for example, is listed for $4.7 million.

And the other planned projects in Hudson Square may kick off their sales at higher price points as developers and corporations continue to flock to the neighborhood.

Hudson Square — historically known as the Printing District due to its large concentration of printing companies — has rapidly shed its industrial roots. And a handful of food and entertainment spots, including City Winery, have opened alongside more established ones like Film Forum. The neighborhood, which only spans about a one-tenth of a square mile, is also bounded by the Canal and Houston Street subway stations for the 1 and 2 trains and the Holland Tunnel.

Trinity Real Estate, the real estate arm of New York’s Trinity Church, has been one of the area’s largest property owners and controls about 40 percent of the land there.

On the retail front, Trader Joe’s recently opened a location there, and Cadillac House, which runs a cafe and spaces for events and galleries, opened its public space on Hudson Street in 2016. Two luxury boutique hotels are also in the area — the Dominick on Spring Street and Hotel Hugo on Greenwich Street.

Hudson Square, meanwhile, is getting a $27 million facelift from a team of design firms looking to add more open spaces and make the streets more pedestrian-friendly while improving traffic flow (source: The Real Deal).