BFC Partners’ proposal calls for 160 co-op units. On February 13, 2008, the Planning Commission approved an application to construct a housing project in the Stapleton neighborhood of Staten Island. The Department of Housing Preservation and Development submitted the application on behalf of developer BFC Partners. The application calls for two, five-story, mixed-use buildings with 160 residential units to be located just west of the area that the New York City Economic Development Corporation plans to revitalize with a waterfront esplanade, hotel, and sports complex, and residential and retail space. 3 CityLand 149 (Nov. 15, 2006). Currently, the 75,619-square-foot site is occupied by a 128-space municipal parking lot and a one-story commercial building.

Under the proposal, BFC would build the development in two phases: the first phase would yield 90 residential units and 9,500 sq.ft. of ground-floor retail, the second phase 70 residential units and 6,300 sq.ft. of ground-floor retail. BFC would make all of the residential units affordable by taking advantage of New York City Housing Development Corporation financial incentives. (read more…)