The building conversion will bring 508 supportive and affordable residential units to DUMBO. On March 13, 2020, the City Council Subcommittee on Zoning and Franchises approved an application to facilitate the conversion of a 29-story former hotel building at 90 Sands Street. The building would be converted into a mixed-use residential use and community facility building with a future possibility for commercial use. To facilitate the conversion, the applicant, Breaking Ground, is proposing to rezone … <Read More>
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Council Approves Go Broome Development on Lower East Side
Council Member Chin was pleased to announce deeper affordability, senior housing and the preservation of two Lower East Side institutions in Go Broome project. On February 27, 2020, the full City Council unanimously approved with a companion resolution, GO Broome LLC’s application to rezone and develop a large-scale, mixed use development on the Lower East Side of Manhattan. The Chinese-American Planning Council and the Gotham Organization Inc. partnered to propose a development with mixed-income, intergenerational … <Read More>
New York City Finances Over 25,000 Affordable Homes in 2019
The addition of over 25,000 affordable homes brings the City’s total affordable homes financed since 2014 to over 147,000. On February 3, 2020, the Department of Housing Preservation and Development announced that the City financed 25,889 homes in 2019. Of this number, 15,692 affordable homes were preserved and another 10,197 new affordable homes were financed.
Comptroller Stringer Releases Plan to Address City’s Affordable Housing Problems
Universal Affordable Housing would require 25 percent permanently low-income affordable housing in all new development with ten or more units. On January 29, 2020, New York City Comptroller Scott M. Stringer announced a citywide housing strategy to fundamentally realign the City’s approach to the housing crisis. The strategy, coined Housing We Need, will include a universal requirement for 25 percent permanently low-income affordable housing in all as-of-right developments with at least ten units.
HPD Announces Financing for Nearly 800 Affordable Units in Downtown Far Rockaway
Over 1,380 new affordable apartments were added to Far Rockaway since it was rezoned in 2017. On January 15, 2020, the Department of Housing Preservation and Development announced a new plan to add 793 affordable apartments to revitalize and strengthen neighborhoods in the Downtown Far Rockway area of Queens. Units will be spread across three properties – RadRoc, Beach 21 and Rockaway Village, and will include units set aside for the formerly homeless and individuals … <Read More>
City Planning Approves Application to Convert Former Hotel Building to Affordable Housing
The conversion of the former Watchtower hotel will bring 508 residential units to DUMBO, Brooklyn. On February 19, 2020, the City Planning Commission approved an application to rezone a block in DUMBO, Brooklyn from a light manufacturing district to a mixed-use residential and commercial district. The block is bounded by High Street to the north, Sands Street to the south, Jay Street to the east, and Pearl Street to the west. The rezoning would facilitate … <Read More>