Inwood residents slam first affordable project proposed under de Blasio rezoning plan

Washington Square Partners and Acadia Realty Trust seek 23-story, 335-unit building with 112 affordable apartments

New York /
Mar.March 08, 2016 10:09 AM

Inwood residents are the latest group to pan Mayor Bill de Blasio’s neighborhood rezoning plan, rejecting the initiative’s first proposed project on the grounds it will “displace” current residents.

Washington Square Partners and Acadia Realty Trust are seeking a rezoning at 4650 Broadway to construct a 23-story, 335-unit mixed-use apartment building. Existing zoning allows the developer to build an 18-story building, which would be entirely market-rate, on the current site of a U-Haul rental space and two-story parking garage.

Paul Travis, a managing partner at Washington Square, said if the rezoning went through, the bigger, mixed-use building would include 335 rent-stabilized apartments and 159 parking spaces, DNAinfo reported. Of those apartments, 112 would be affordable for people making 80 percent of area median income of $62,150 per year, according to DNAinfo.

Retail and office space will be available on the development’s ground floor, although Travis did not say how much square footage it would hold.

Several residents and Community Board 12 members voted against the proposed rezoning. At the meeting, residents said the bigger building would “overpopulate” an already dense community and cause the displacement of families.

De Blasio’s affordable housing plan, which includes Mandatory Inclusionary Housing, is currently before the City Council for approval. Under MIH, developers seeking a rezoning must put aside 25 or 30 percent of a project for affordable housing.

Though de Blasio’s housing initiative has met resistance in all corners of the city, there are supporters.

The National Housing Conference, a nonprofit that supports affordable housing, recently released an op-ed that stated it is “critically important” that the City Council pass MIH. [DNAinfo]Dusica Sue Malesevic


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
Shelter Island and Town Supervisor Gerry Siller (iStock, Town of Shelter Island)
Shelter Island prices squeezing out affordable housing
Shelter Island prices squeezing out affordable housing
An aerial of the Pascack Ridge development (Google Maps)
Large Rockland development project suffers setback in court
Large Rockland development project suffers setback in court
New York City Mayor Bill de Blasio (Getty)
For real this time? City schedules tax lien sale
For real this time? City schedules tax lien sale
MacQuestion Development CEO Rella Fogliano, 32/36/38 Main Street in Yonkers (Google Maps, Getty)
Despite hurdles, developer plans 10-story affordable housing complex in Yonkers
Despite hurdles, developer plans 10-story affordable housing complex in Yonkers
Sen. Chuck Schumer, President Joe Biden, Congresswoman Nancy Pelosi and House Ways and Means Chairman Richard Neal (Getty/Illustration by Kevin Rebong for The Real Deal)
5 real estate issues to watch in Dems’ $3.5T budget
5 real estate issues to watch in Dems’ $3.5T budget
Director of the New York City Department of City Planning and Chair of the City Planning Commission Marisa Lago. (NYC gov, Getty)
Biden nominates City Planning director Marisa Lago for Commerce Dept role
Biden nominates City Planning director Marisa Lago for Commerce Dept role
arrow_forward_ios

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

Loading...