NEW YORK | Wyckoff Gardens AND Holmes Expansion | FT | FLOORS (3 Towers)

[chris08876]

NYCHA Plans New Affordable Units in Boerum Hill and Upper East Side

A proposal from the New York City Housing Authority could bring more than 1,000 market-rate and affordable units to two housing projects in Manhattan and Brooklyn, officials said.

NYCHA seeks to construct new developments on underutilized land in Boerum Hill's Wyckoff Gardens and the Upper East Side's Holmes Towers under its NextGen Neighborhoods program, a 10-year strategic plan that seeks to boost the city agency's operating deficit and provide funds for capital needs.

The new units would be 50 percent market-rate and 50 percent affordable with a portion of the revenue used for repairs and improvement projects within the NYCHA developments.

The remaining funds would be used for other operating costs within the system. NYCHA could not immediately provide a cost or revenue estimate for the proposals.

For Wyckoff Gardens, NYCHA is proposing to replace two unused parking lots with two buildings that would host 550 to 650 units.

The Boerum Hill low-income housing development, bound by Third Avenue, Wyckoff, Baltic and Nevins streets, currently has three buildings with almost 530 units.

For Holmes Towers in the Upper East Side, NYCHA is seeking to replace and move a playground and construct a building with 350 to 400 units.

The Towers, which already include two buildings with nearly 540 units, is located on First Avenue between 92nd and 96th streets.

The income for affordable housing would be capped at a minimum of 60 percent of the area media income but there may be scope for deeper affordability as the process continues, spokeswoman Jackie Primeau said.

But most of the details of the proposals, including the percentage of revenue that will be used for capital needs in Wyckoff and Holmes, will be dependent upon community input from residents.

Wyckoff and Holmes were selected because of the space for new buildings, the need for repairs in existing units as well as for affordable housing in the areas.

Extra article:



Hundreds of market-rate apartments to be built at NYCHA developments in Brooklyn, Manhattan under plan by Mayor de Blasio

The de Blasio administration plans to put up hundreds of market-rate apartments on public land at NYCHA developments in two hot real estate neighborhoods, officials said Wednesday.

The plan targets two developments — Wyckoff Gardens in Boerum Hill, Brooklyn, and Holmes Towers on the Upper East Side — both in neighborhoods where land is considered “high value.” NYCHA would either sell to or enter into 99-year leases with developers to build more than 1,000 units, half to be affordable and half to rent at market rates.

The plan would allow the cash-strapped housing authority to build more affordable housing and also generate revenue, officials said.

De Blasio’s mixed-use project is a slightly revamped version of a failed plan by his predecessor, Mayor Michael Bloomberg, who suggested the developments be 80% market rate apartments.

The Bloomberg plan — which specifically targeted eight Manhattan developments — was attacked by tenants who felt they hadn’t been consulted. Many were also concerned it would further exacerbate gentrification in their rapidly changing neighborhoods.

Wyckoff Gardens is located in a downtown Brooklyn neighborhood that’s been gentrifying over the last decade, sending land values through the roof.

Under the NYCHA plan, a developer would be asked to build up to 550 to 650 apartments there, nearly doubling the size of the development. Of that, up to 300 units would be affordable, and the project would go up on two “underutilized” parking lots.

At Holmes Tower on the Upper East Side, NYCHA suggests building one tower of 350 to 400 units, of which 175 to 200 would be affordable. The development would go up on a playground, which NYCHA would relocate.

===========================
http://www.dnainfo.com/new-york/20150910...rdable-units-boerum-hill-upper-east-side
http://www.nydailynews.com/new-york/market-rate-apartments-built-public-land-article-1.2354500