City Planning’s review of Two Bridges resi towers will take place in October

Critics have argued the process has been rushed

New York /
Jun.June 26, 2018 11:30 AM

Gale Brewer, Margaret Chin, and a rendering of 259 Clinton Street (Credit: Getty Images and Perkins Eastman)

The clock is ticking on the city’s review of a trio of large residential towers in Lower Manhattan’s Two Bridges neighborhood.

On Monday, a City Planning Commission committee certified the application submitted by developers that would create over 2,700 housing units, but also moved the review process to the fall.

JDS Development Group is planning a 79-story tower at 247 Cherry Street, and a joint venture between L+M Development Partners and CIM Group are building a pair of 62- and 26-story towers at 260 South Street. Starrett Development is also planning a 62-story building at 259 Clinton Street. Each of the projects will feature an affordable housing component.

Ryan Singer, senior director of Land Use Review & Commission Operations, said a 60-day referral period would set the public hearing to Sept. 5 — but the body wouldn’t be able to hold a hearing until mid-October due to a packed schedule.

A spokesperson for the developers told Politico they wanted the hearing be pushed back to allow more time to “formulate its recommendations.”

Council Member Margaret Chin and Manhattan Borough President Gale Brewer, who led a protest earlier on Monday, have pushed for more time to review the environmental impact statements, Politico reported. Critics have said the developments — were being rushed through and had not been given enough time for review.

Earlier this year, Chin and Brewer proposed a zoning text amendment that would require certain projects in Two Bridges to receive a special permit — a process that could drastically slow development planned in the area. Opponents of the project have argued it would crowd an already dense area and further strain infrastructure.

The projects consist of four towers across three developments — and is expected to create 2,775 residential units, 700 units of which would be affordable. The plan would also include investments in the Two Bridges neighborhood, the report said. They include $40 million to build a new subway entrance for the nearby East Broadway F train station and $15 million for three nearby playgrounds. [Politico] — Meenal Vamburkar

 

Related Articles

arrow_forward_ios
(Getty, Photo Illustration by The Real Deal)
Retail had its reckoning. Will subleases flood the market?
Retail had its reckoning. Will subleases flood the market?
Ascena owns Ann Taylor, Lane Bryant, Lou & Grey and Cacique. (Getty)
Ascena restructuring approved post-bankruptcy
Ascena restructuring approved post-bankruptcy
Apollo Global Management will take over craft retailer Michaels in a deal that values the company at $3.3 billion. (Wikipedia Commons, iStock)
Craft retailer Michaels to go private in $5B deal
Craft retailer Michaels to go private in $5B deal
 JLL CEO of capital markets Richard Bloxam and Roofstock CEO Gary Beasley (JLL, Roofstock, iStock)
JLL gets in rental home business
JLL gets in rental home business
Mack-Cali Realty CEO Mahbod Nia and MaryAnne Gilmartin (Photos via Mack-Cali Realty)
Mack-Cali Realty names Mahbod Nia as CEO
Mack-Cali Realty names Mahbod Nia as CEO
The comedy club argues that if SNL can operate, then they should be allowed to operate too. (Getty)
Manhattan comedy club sues Cuomo over pandemic closures
Manhattan comedy club sues Cuomo over pandemic closures
(iStock)
These were Manhattan’s best office submarkets in Q4
These were Manhattan’s best office submarkets in Q4
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Order up: Real estate investors line up to buy drive-throughs
Order up: Real estate investors line up to buy drive-throughs
arrow_forward_ios

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

Loading...