The Real Deal New York

Domino zoning plan lacks 30-percent affordable housing guarantee, insiders say

July 27, 2010 08:30AM

The Domino sign

With the City Council set to vote Thursday on the Domino Sugar Factory
condominium development’s plans, insiders say that fewer than expected
affordable housing units may make the cut, according to the New York
Post. The vote, which would grant a zoning change to allow for the $1.5
billion Williamsburg development, is expected to be approved by the
council. Still, the zoning change proposal includes no provisions
guaranteeing that 30 percent of the 2,200 apartments will be
affordable, as developer CPC Resources had previously promised.
This constitutes a major risk, affordable housing advocates say,
allowing CPC a loophole to back out of its affordable housing pledge.
The project is expected to break ground next year, with various phases
of construction set to extend over the next 10 years.

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