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Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHooman Nissani buys 8.5 acres in Playa Vista for $83M, plans massive mixed-use projectHooman Nissani buys 8.5 acres in Playa Vista for $83M, plans massive mixed-use projectMacerich faces “imminent” default on $300M Santa Monica Place loanMacerich faces “imminent” default on $300M Santa Monica Place loan
New York

Government briefs

Snapshots of government-related real estate news

A rendering of 365 Bond Street
A rendering of 365 Bond Street

Gowanus Canal site gets clean bill of health

State officials announced that a developer has finished cleaning up contaminated land at a residential high-rise site beside the Gowanus Canal. Lightstone Group completed the environmental cleanup at 365 Bond Street as part of the state’s Brownfield Cleanup Program, the Department of Environmental Conservation said. The site had been used for industry since the 1860s, resulting in the build-up of toxic chemicals like lead and arsenic, DNAinfo reported. The Gowanus Canal was declared a Superfund site in 2010 and the EPA is expected to do a $506 million cleanup there in 2017. Construction is still underway at 363 Bond Street, another high-rise that is undergoing a similar cleanup. The 430-unit building at 365 Bond Street is expected to open this winter.

Pols criticize MTA for cut to Second Avenue subway

Elected officials wrote a letter to the MTA criticizing the agency for reducing capital funding to the second phase of its four-year plan for the Second Avenue subway extension. The plan takes the Second Avenue line into East Harlem, but the MTA said tunnel boring wouldn’t begin until 2019. The agency blamed time, not money, saying that it would take longer than four years to dig the tunnel and there was no point in keeping $1 billion in the capital program if it couldn’t be spent. Manhattan Borough President Gale Brewer said that completing the project on the Upper East Side but stalling it in East Harlem would send the wrong message, according to amNew York. Construction of Phase 1 began in April 2007 and is slated for completion next year, according to the MTA. The long-awaited project aims to alleviate congestion on the 4, 5 and 6 lines. The Second Avenue line was first proposed in 1919.

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Tech hub to replace P. C. Richard store

P. C. Richard & Son at 124 East 14th Street

P. C. Richard & Son at 124 East 14th Street

A P.C. Richard & Son appliance store will be transformed into a hub for burgeoning tech companies, the city’s Economic Development Corp. announced. The agency said it is accepting proposals for the two-story, city-owned site at 124 East 14th Street, where P.C. Richard has been for 19 years. While proposals can include residential space, the EDC said it’s encouraging developers to pitch office space for tech companies and other creative businesses. About 140,000 square feet of the site is zoned for housing and about 93,000 square feet can be used for commercial space. The final project could be a mix of the two. Bids for the property are due by February, when P.C. Richard’s lease expires. 

Brooklyn Heights Library plan clears Planning vote

A controversial plan to redevelop the Brooklyn Heights Public Library has been approved by the City Planning Commission in a 10-0 vote. The library will now be sold for $52 million to Hudson Companies developer David Kramer, who plans to construct a 36-story tower with 139 high-end condominiums, a 21,500-square-foot replacement library and 114 units of affordable housing on two alternate sites, according to the Brooklyn Eagle. The plan has been backed by the de Blasio administration, but it has faced strong opposition from unions and community groups.The City Council plans to vote on the proposal before the end of the year.