Gowanus residents divided over Lightstone’s planned development

Correction Appended: While some Gowanus residents fear the gentrifying affects a new high-rise development proposed by the Lightstone Group could have on the neighborhood, others see it as a bargaining chip to get the filthy Gowanus Canal and other toxic sites cleaned up, according to the New York Times.

The 700-apartment Lightstone Group project  came after the canal was designated a Superfund site — a designation that caused a previous 500-unit proposal from Toll Brothers to be scrapped. The Environmental Protection Agency’s plan to dredge the 1.8 mile toxic canal bottom and recap it could take more than a decade and cost $300 million to $500 million.

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Lightstone plans to offer retail and community space at the $300 million, proposed development, which is located on Bond Street between Carroll and 2nd streets, but getting the site cleaned up will become a priority if the developer intends to successfully attract the well-heeled residents it is reportedly targeting. [NYT]Christopher Cameron

Correction: In an earlier version of this piece, The Real Deal incorrectly reported the number of units and name of Lightstone’s Gowanus project.

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Gowanus residents divided over Lightstone’s planned development

Correction Appended: While some Gowanus residents fear the gentrifying affects a new high-rise development proposed by the Lightstone Group could have on the neighborhood, others see it as a bargaining chip to get the filthy Gowanus Canal and other toxic sites cleaned up, according to the New York Times.

The 700-apartment Lightstone Group project  came after the canal was designated a Superfund site — a designation that caused a previous 500-unit proposal from Toll Brothers to be scrapped. The Environmental Protection Agency’s plan to dredge the 1.8 mile toxic canal bottom and recap it could take more than a decade and cost $300 million to $500 million.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Lightstone plans to offer retail and community space at the $300 million, proposed development, which is located on Bond Street between Carroll and 2nd streets, but getting the site cleaned up will become a priority if the developer intends to successfully attract the well-heeled residents it is reportedly targeting. [NYT]Christopher Cameron

Correction: In an earlier version of this piece, The Real Deal incorrectly reported the number of units and name of Lightstone’s Gowanus project.

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