City seeks developer to build 200 affordable units on East New York lot

The Atlantic Avenue parcel is exempt from an April rezoning

TRD New York /
Dec.December 22, 2016 09:00 AM

Sketch of the vacant lot that could hold 200 affordable units (Credit: NYC.gov via Crains)

The city announced it is seeking bids from developers to build up to 200 affordable apartments on a vacant East New York parcel.

The site, bounded by Atlantic Avenue, Chestnut Street and Dinsmore Place, sits across the street from the public City Line Park and neighbors a soon-to-be-built school, according to Crain’s. It was excluded from the recent rezoning of East New York.

“The city-owned lot at Dinsmore-Chestnut has been vacant for decades: a tragic and all-too-familiar symbol of previously unfulfilled promises and a lack of investment in East New York,” City Council member Rafael Espinal said in a statement. “With the East New York Neighborhood Plan that passed the City Council a mere eight months ago, and the de Blasio administration’s commitment to building affordable housing, this site is finally being put to effective use.”

Phipps Houses recently bought a neighboring parcel for $36 million and is currently in talks with City Hall to build a 900-unit affordable housing development.

In April, the City Council approved a rezoning plan for 190 blocks in East New York and neighboring Cypress Hills and Ocean Hill. It is the first neighborhood to be rezoned under the de Blasio administration’s Mandatory Inclusionary Housing Plan, which allows developers to build taller but requires them to set aside a portion of units as affordable in return.  [Crain’s]Konrad Putzier


Related Articles

arrow_forward_ios
Nuveen CEO Vijay Advani, Blackstone President & COO Jonathan Gray and one of the Texas properties

Blackstone just sold off a 29M sf national industrial portfolio

From left: Mark Levine, Corey Johnson, and Marisa Lago with Morningside Heights (Credit: Getty Images and Wikipedia)

Manhattan rezoning forges ahead — without the de Blasio administration

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Industry City CEO Andrew Kimball, Brooklyn City Council member Carlos Menchaca and Industry City (Credit: Getty Images)

Industry City made five concessions for rezoning. It wasn’t enough

Adam Neumann in talks about his future role, Sheldon Solow’s son makes a winery play: Daily digest

Avery Hall to city: In exchange for 50K sf, we’ll improve a Gowanus subway station

Long-delayed North Brooklyn rezoning plan hits another roadblock

Another new residential project is on its way to East New York

arrow_forward_ios