Stalled Williamsburg developments push for fresh permits

Projects along Kent Avenue and West Street would bring mix of market-rate, affordable units

TRD New York /
Jun.June 19, 2014 01:32 PM

A trio of stalled development projects along the Williamsburg waterfront are looking to renew their building permits and revive work halted during the recession.

Property owner Rector Hylan is looking to renew a 2006 permit to build 18- and 24- story towers with 450 apartment units at 420-430 Kent Avenue, two blocks from Two Trees Management’s Domino Sugar project. Twenty percent of the units in the properties would be affordable, according to DNAinfo. A nearby project at 462-490 Kent Avenue, dubbed the Rose Plaza on the River, would bring five buildings with 754 units, 226 of which would be affordable. That project was approved in 2010.

The third, a 39-story mixed-use development at 145 and 155 West Street in Greenpoint, approved back in 2009, is also looking to renew its permit for a project that includes 140 units of affordable housing in a building separate from the one that would hold market-rate units.

Eric Palatnik, a zoning attorney representing Rector Hylan, blamed construction costs and a poor economic climate for the developer’s stalled Kent Avenue project. The project’s permit was renewed in 2011, but he did not respond to DNAinfo’s requests for comment as to why the development has been delayed since then.

Rose on The Plaza, meanwhile, was put up for sale for $210 million last year. But the site did not garner the interest brokers anticipated, with bids hovering around $70 million below ask, as The Real Deal reported at the time. As for the West Street development in Greenpoint, developers blamed a post-recession credit freeze for halting the project, Vivien Krieger, an attorney for the developers, told the news site.

The designs for West Street are now out-of-step with current zoning laws, which require integrated below-market and market-rate units in the same building, according to DNAinfo. Community Board 1’s land use committee hesitated over the issue in a recent meeting, with some members saying the affordable and market-rate units should be together. Others said the plan should be approved as is since it’s already been approved. [DNAinfo]Julie Strickland

Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

Nonprofit plans affordable housing development near Essex Crossing
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

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

Alicia Glen to launch development firm, MSquared

Alicia Glen to launch development firm, MSquared
Brad Lander and Vanessa Gibson (Credit: Getty, iStock)

NYC will lose 21,000 affordable units to budget cuts: report

NYC will lose 21,000 affordable units to budget cuts: report
470 Kent Avenue and Naftali Group’s Miki Naftali (Credit: Google Maps, Gonzalo Marroquin/Patrick McMullan via Getty Images)

Naftali closes on large Williamsburg development site for $100M

Naftali closes on large Williamsburg development site for $100M
Mayor Bill de Blasio (Getty, iStock)

Developers fume over city plan to cut affordable housing spending

Developers fume over city plan to cut affordable housing spending
84 Putnam Ave and 308 N 7th Street in Brooklyn (Google Maps; 308n7)

Brooklyn luxury home sales remain 80% below last year

Brooklyn luxury home sales remain 80% below last year
A new study found that almost nine in 10 households have paid at least some rent in May (Credit: iStock)

Almost 90% of renters have made payments in May: report

Almost 90% of renters have made payments in May: report
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...