PUBLIC TESTIMONY
Testimony by Roger Melzer on 441/467 Prospect Avenue (Arrow Linen) Rezoning
4:11:04
ยท
134 sec
Roger Melzer testifies in opposition to the rezoning and construction of two luxury towers on the Arrow Linen property on Prospect Avenue. He expresses concerns about the affordability of the proposed apartments and the potential impact on neighborhood rents.
- Melzer believes the development will lead to rapidly escalating rents in the area
- He criticizes Arrow Linen for not paying property taxes for 25 years due to a prior industrial abatement
- Melzer suggests that a more contextual development with affordable partners is possible on the site
Roger Melzer
4:11:04
Thank you for this opportunity to testify.
4:11:06
I am opposed to the rezoning and construction of 2 luxury towers on the Arrowland property on Prospect Avenue.
4:11:14
The real intent of Arrow is to build a 183 expensive luxury apartments and throw in 61 so called affordable units that might not be so affordable after all.
4:11:25
Arrow has never revealed what they intend to charge for any of the apartments, so I have put the table put together a table of the projected rents based on the proposal they have submitted to the community board.
4:11:36
I do not have time to explain my table, but if Arrow wants to come forward with their numbers, so much the better.
4:11:42
It is my belief that these two luxury towers will be the driving force in rapidly escalating rents throughout the neighborhood.
4:11:49
As others may testify, the substantial high rise developments on Fourth Avenue and Park Slope have led to higher rents and displacement for many years.
4:11:58
The Arrowland Corporation has owned Prospect Avenue property for decades, and they have not paid property taxes for 25 years due to a prior industrial abatement.
4:12:09
So they effectively have zero land costs and and 0 acquisition costs.
4:12:15
What a sweet deal.
4:12:17
Window Terrace is a neighborhood of mostly 2 and 3 story buildings.
4:12:21
A more contextual development with affordable partners is possible on this site, and it can still be profitable.
4:12:28
I urge this committee to point, to vote no on this proposal.
4:12:33
And I wanna add that I own probably the largest 4 story walk up apartment building in Windsor Terrace, 27 units, mostly 1 bedrooms.
4:12:43
My average rent in the whole buildings are are $22100 and that's what you get when you have an owner that lives in the neighborhood and cares about their tenants.
4:12:54
Arrow Linen is an absentee landlord.
4:12:56
They don't care about tenants.
4:12:58
They don't care about what happens to the neighborhood, and the rent levels they propose are astronomical.
4:13:04
I project the rent levels for the luxuries will be over $12,000,000 and the, regulated ones, a little over 1,000,000.
4:13:15
So it's a real cash grab.
4:13:17
Thank you very much.
Kevin Riley
4:13:18
Thank you so much for your testimony.