Lloyd Goldman delivers latest blow to Jersey City’s art district

TRD New York /
Jun.June 25, 2012 12:30 PM

The newest dispute surrounding development of Jersey City’s Powerhouse Arts District comes in the form of a Lloyd Goldman-backed 500-unit high-end development that, in its latest incarnation, would not be required to include affordable housing inside, the Wall Street Journal reported. However, some City Council members and locals say they think this development will prove to be the final blow to a district where officials had promised to create a safe haven for artists through the inclusion of cheap lofts.

Negotiations are still on the table to keep the affordable housing option within the district, but a decision is still weeks away.

“We’re an artists’ district by name only,” Kevin Pollack, who lives in the area and is on the board of the Powerhouse Arts District Neighborhood Association, told the Journal, “especially if we get rid of the affordable housing.”

But according to Goldman, there will be affordable housing development, albeit offsite. He said his tower at 110 First Street would bring new development to a vacant area, as well as new residents, construction jobs and tax revenues that boost the economy. Originally, he had agreed to create 50 units of affordable housing at 110 First Street, half on-site and half off. But now, city officials said, he will contribute $2.5 million to construct 25 cheaper units off-site in the Heights neighborhoods. [WSJ]


Related Articles

arrow_forward_ios
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

205 Park Avenue (Credit: Google Maps)

Developer files plans for mixed-use project facing BQE

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

Concept plans for 'The Halo' at 289-301 Washington Street and Meridian Capital Investment's David Schechtman - provided by Meridian Capital Investments/ Minno Wasko

Developer seeks $40M for Opportunity Zone site in downtown Newark

From left: Michael Bennett, Joe Biden, Pete Buttigieg, Kirsten Gillibrand and Kamala Harris (Credit: Getty Images)

Presidential debate 2020 Night 2: Here’s where these Democratic candidates stand on housing

Mayor Bill de Blasio and Rikers Island (Credit: Getty Images)

Real estate development not coming to Rikers Island, mayor says

Comptroller Scott Stringer (Credit: Getty Images)

Stringer sounds the alarm on the housing affordability crisis in new report

arrow_forward_ios