Use 25 Kent taxes to fund Bushwick Inlet Park project: activists

Toby Moskovits’ 480K sf project requires a zoning variance

TRD New York /
Apr.April 18, 2016 11:30 AM

Green space activists are hoping Toby Moskovits’ planned Williamsburg office project will also revive the city’s long-stalled plan for a waterfront park in the area.

Friends of Bushwick Inlet Park is endorsing Brooklyn Borough president Eric Adams’ plan to fund the park by earmarking property tax payments from the developer’s 480,000-square-foot 25 Kent Avenue project.

“It’s a good, creative way to solve the larger problem,” the group’s co-chair Steve Chesler told the Brooklyn Paper.

Moskovits’ Heritage Equity Partners is seeking a zoning variance for the planned eight-story office-and-manufacturing building.

The city has promised to since 2005 to build a park on the Bushwick Inlet, adjacent to the 25 Kent Avenue site. Planners have acquired part of the required land, but the push stalled in the face of the area’s rapidly increasing land prices.

“This developer will basically be a revenue enhancer,” Chesler told the Paper, allowing the city the proceed with its plan.

Despite its the park’s budget issues, the city paid $53 million for a 7-acre site in the area last month.

Still, Adams’ plan is merely a recommendation. To be enacted, it requires approval by the City Planning Commission and the City Council. [BP]Ariel Stulberg


Related Articles

arrow_forward_ios
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Joel Schreiber (Credit: Shir Stein and Wikipedia)

WeWork’s first investor used his stock as collateral. Now his lenders are suing him

Tenants at “dozens of buildings” in LA receive eviction notices ahead of California’s new rent law

Nicolai Ouroussoff and Cecily Brown with 125 East 10th Street (Credit: Columbia GSAPP via Flickr, Wikipedia, and StreetEasy)

No criticism here: Nicolai Ouroussoff, Cecily Brown buy E. Village house for $7.75M

NYCHA strikes air rights deal with developer, WeWork shuttering its pricey private school: Daily digest

Alex Rodriguez

Watch: A-Rod on the benefits and pitfalls of being a celebrity investor

arrow_forward_ios