Controversial Brooklyn Towers Move Closer to Reality

The New York City Planning Commission voted 10-1 to advance Monitor Point, a proposal to redevelop the Greenpoint waterfront. The plan would replace an MTA warehouse at 40 Quay Street with three residential towers containing 1,150 apartments, including 460 affordable units. The development would include public waterfront access and funding for nearby park maintenance along Bushwick Inlet. Developers say relocating the MTA would otherwise allow only market-rate housing and that increased density enables affordability. Neighborhood residents and advocates raised concerns about whether the community benefits are sufficient, citing the site’s FEMA-designated flood zone. Current affordability plans reserve units for households earning 40 percent to 100 percent of area median income, with rents ranging from about $1,200 to $3,050 for affordable one-bedrooms and about $4,000 to $9,500 for market-rate units. The City Council is expected to vote June 25, and Councilmember Lincoln Restler said he would oppose unless the affordable share increases.

"The proposal, known as Monitor Point, would replace an MTA warehouse at 40 Quay Street with 1,150 apartments, including 460 affordable units, along the edge of Bushwick Inlet. The City Council is expected to vote on the project June 25. Developers with Gotham Organization say the project would deliver housing, public waterfront access and funding for nearby park maintenance on land that could otherwise hold only market-rate apartments."

"“If the MTA were relocated, you could build today 250 to 300 units of all market rate housing with no affordable housing required,” Bryan Kelly, president of development for Gotham Organization said at the subcommittee hearing on Wednesday. “Our plan, through density, unlocks affordability.”"

"Some residents argued the project asks too little of developers building on public land. “The community benefit has to be much greater than 40 percent,” Katherine Conkling Thompson of Save the Inlet, a group pushing for completion of Bushwick Inlet Park said. “This area is in a FEMA-designated flood zone.”"

"Current plans would reserve apartments for households earning between 40 percent and 100 percent of area median income. Rents for affordable one-bedroom units would range from roughly $1,200 to $3,050 a month. Market-rate apartments would start around $4,000 for studios and climb to about $9,500 for three-bedroom units. Councilmember Lincoln Restler, whose district includes the site, said he would oppose the proposal unless developers increase the share of affordable housing."

Read at Brooklyn, NY Patch