Isaac Hager takes Crown Heights rezoning off the table … for now

Developer to take second look at rezoning lots for 565 apartments

New York /
Apr.April 20, 2017 09:05 AM

Isaac Hager’s Cornell Realty Management withdrew plans to rezone a Crown Heights property to make way for 565 apartments amid community opposition, but said it will resubmit the application down the road.

The developer had sought to rezone parcels off Franklin Avenue in order to build a pair of 16 story towers, but told the local community board Wednesday night that they were no longer pursuing the rezoning, DNAinfo reported.

Members of Movement to Protect the People, an activist group that rounded up more than 4,000 signatures opposing the project, cheered at the news.

“What that means is they may reapplying in the future, they may build as-of-right, no idea,” Liburd said, adding that Cornell may reapply in the future or build the project as-of-right.

Under current zoning laws, Cornell could build towers up to seven stories tall on the sites at 40 Crown Street and 931 Carroll Street. Hager bought the sites for a combined $17 million in 2014.

In a statement to the community board, Cornell said it is “respectfully withdrawing” the proposal, but plans “to resubmit this application after additional outreach with community stakeholders and elected officials to obtain input and ensure the benefits of the project are fully understood.” [DNAinfo]Rich Bockmann


Related Articles

arrow_forward_ios
Slate Property's CEO Martin Nussbaum (West End 87)

Scale Lending originates $38M inventory loan for unsold UWS condos

Scale Lending originates $38M inventory loan for unsold UWS condos
Knotel CEO Amol Sarva (Sasha Maslov, Knotel, iStock)

Evictions, unpaid vendors and back rent: Lawsuits mounting against Knotel

Evictions, unpaid vendors and back rent: Lawsuits mounting against Knotel
From left: former Vornado CFO Joseph Macnow; ; Howard Hughes Corporation CEO David O’Reilly, former Cushman & Wakefield CFO Duncan Palmer (Photos via Vornado, Howard Hughes, Cushman & Wakefield)

Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes

Leadership shake-ups hit Vornado, Cushman & Wakefield and Howard Hughes
B6's Paul Massey and Tom Gammino (Photos via B6; Jll)

Tom Gammino joins Paul Massey’s B6

Tom Gammino joins Paul Massey’s B6
Residential construction accounted for 44% of spending in October. (iStock)

Housing drives rise in construction spending October

Housing drives rise in construction spending October
Ken TaeHern Kim and Zhongyuan Li with Fairmont San Francisco (Linkedin, Google Maps)

Mirae Asset wins lawsuit over scrapped $5.8B Anbang hotel deal

Mirae Asset wins lawsuit over scrapped $5.8B Anbang hotel deal
Foot traffic in Union Square, the Flatiron District and Chelsea is down by 50% from February. (Getty)

Foot traffic remains low in prime Manhattan neighborhoods

Foot traffic remains low in prime Manhattan neighborhoods
Shadow inventory in Manhattan’s flex-office market is contributing to the rising overall availability rate (iStock)

WeWork and Co’s woes add to rising shadow office inventory

WeWork and Co’s woes add to rising shadow office inventory
arrow_forward_ios

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

Loading...