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

Company is working on a rental development at 204 Fourth Avenue

New York /
Apr.April 26, 2019 02:21 PM
Avery Hall principal Brian Ezra and a rendering  of 204 Fourth Avenue (Credit: Avery Hall and Startup Columbia)

Avery Hall principal Brian Ezra and a rendering  of 204 Fourth Avenue (Credit: Avery Hall and Startup Columbia)

Avery Hall Investments wants to improve public transportation in Gowanus. But it needs something in return — specifically, the green light to build a much larger project at its development site on Fourth Avenue.

The firm plans to construct a rental development at 204 Fourth Avenue—the current site of a Speedway gas station between Union and Sackett streets—and it has proposed building a new entrance to the R train’s southbound Union Street subway platform as part of the project, according to Crain’s. The new entrance would feature a staircase wider than the two existing ones and an elevator, which the station does not currently have. It would cost at least $11 million.

The firm would want about 50,000 additional square feet for its apartment project in exchange for this. This means the development could span more than 200,000 square feet overall. It would stand 17 stories tall and include between 150 and 200 apartments, 25 to 30 percent of which would be affordable.

The city is planning a rezoning of Gowanus, and Avery Hall principal Brian Ezra told Crain’s this would likely lead to a significant population increase.

“The rezoning contemplates adding a population of 20,000 new residents in the neighborhood,” he said. “Accommodating this population as well as the existing community here is something we’re excited about. Given the expense of an upgrade like this, we are seeking an appropriate increase in density to fairly compensate us for the cost and make this feasible.” [Crain’s] – Eddie Small


Related Articles

arrow_forward_ios
City Council Majority Leader Laurie Cumbo and 840 Atlantic Avenue (Getty, Google Maps)
Atlantic Avenue project gets haircut — and is rejected anyway
Atlantic Avenue project gets haircut — and is rejected anyway
Governors Island (Getty, iStock)
Governors Island rezoning inches closer to final vote
Governors Island rezoning inches closer to final vote
Close to 80 hotels with more than 13,000 rooms plan to open in 2021. (iStock)
Big year seen for hotel openings, despite few visitors
Big year seen for hotel openings, despite few visitors
Total size of New York construction sites is smallest since 2010. (Getty)
New construction projects off to slow start in 2021
New construction projects off to slow start in 2021
Protestors in support of street vendors gather in Hudson Yards on May 7, 2021 (Getty)
“More churros, less cops”: Vendors and Related face off
“More churros, less cops”: Vendors and Related face off
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
FiDi condo supply is through the roof as workers delay office return. (Getty)
FiDi condo glut is through the roof
FiDi condo glut is through the roof
The Howard Hughes Corporation CEO David O'Reilly (LinkedIn via David O'Reilly)
Howard Hughes’ (slightly less) big Seaport project approved
Howard Hughes’ (slightly less) big Seaport project approved
arrow_forward_ios

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

Loading...