PRESENTATION
Impact of City Planning Commission's density reduction
0:13:16
·
59 sec
The presenter discusses the City Planning Commission's decision to reduce the height and density of the project, and its significant impact on the development's viability and community benefits.
- CPC reduced overall unit count by 25% (from 475 to 355 units)
- Reduction makes it challenging to deliver on promises made to the community during ULURP
- Developer has worked with partners, including AFL-CIO Housing Investment Trust, to find ways to bridge the gap between affordability and project viability
- The density reduction necessitates changes to the affordable housing component of the project
David Rosenberg
0:13:16
Despite this and despite all these commitments and the desperate need for new housing and good jobs and crown heights, the city planning commission chose to further reduce the heightened density at the behest of the Brooklyn Panic Garden.
0:13:29
Next slide, please.
0:13:32
On paper, these changes reduce the overall unit count by about 25% or 120 units from 475 to 355.
0:13:41
But in practice, This reduction makes it impossible for us to deliver on the promises we've made to the community during Ulerb.
0:13:47
The math simply does not add up.
0:13:51
Since the CPC vote, we've worked tirelessly with our partners to find a way forward that can bridge the gap between maximum affordability and project viability.
0:13:59
We are grateful to the AFL CIO Housing Investment Trust for their support throughout this process, but especially for stepping up with unprecedented investment to get us closer to meeting the project's original goals.
0:14:13
We also need the city council to step in.
