Park Tower revives 22-acre Greenpoint plans

TRD New York /
May.May 06, 2013 12:00 PM

A developer is breathing new life into its decade-old proposal to build thousands of apartments over 22 acres in the northern tip of Greenpoint, Crain’s reported.

Park Tower Group will unveil details tonight at a public meeting and aims to break ground on the first tower in December or January, Crain’s said.

The sprawling plan involves 5,500 units to be distributed among nearly 24 buildings, 10 of which would be luxury towers spanning between 30 and 40 stories, the publication said.

The developer revised its plan along the waterfront to accommodate a 2005 rezoning that allowed for residential development on what was once industrial land. But the recession halted its progress.

The seven-month public review process, known as ULURP, is scheduled to start in June, Crain’s said.

However, financing is not yet secure for the project, slated for the banks of Newtown Creek, a Superfund site. [Crain’s] – Mark Maurer


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