Brooklyn Bridge Park affordable housing plan ruffles feathers

Neighbors unhappy with proposal that provides little public money for park operations

TRD New York /
May.May 09, 2014 02:45 PM

Brooklyn Bridge Park neighbors are up in arms over a proposal to build a 16-story, 140-unit residential building within the park. The development, which may be used for affordable housing, would be built on one of five designated sites within the park’s interior that were set aside for construction of market-rate apartments that would help pay for park operations.

The proposed development would provide little to no subsidy for use toward the park. Some Residents Told The Wall Street Journal they think the building is superfluous and serves the needs of private housing, rather than those of public park land. Meanwhile, representatives of the Brooklyn Bridge Park Corp., a not-for-profit controlled by mayoral appointees that runs the park, told the Journal the area would benefit from a mixed income community that is a better representation of Brooklyn.

Mayor Bill de Blasio has expressed support for a compromise that would provide affordable housing as well as money toward park operations.

Three of the five sites are being developed in the park, including a 108-unit luxury condominium that has set sales-price records for the area. But Regina Myer, president of the Brooklyn Bridge Park Corp., said that revenue from the two remaining sites is necessary to run the park.

No decisions have been made on the location of the development, or the number of affordable housing units that would be included in the plan. [WSJ]Sasha von Oldershausen


Related Article

arrow_forward_ios

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

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

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

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

Billionaire sells Bridgehampton estate for close to $43M ask, iconic Springs General Store hits market again & more Hamptons real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

arrow_forward_ios