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Q&A
Debate over development plans for 100 Gold Street
1:47:02
ยท
96 sec
Council Member Brewer inquires about the possibility of making the development at 100 Gold Street a community land trust with 100% affordable housing. Commissioner Tigani explains the current plans and constraints.
- The site is currently subject to an RFP (Request for Proposals)
- The project aims to deliver significant affordable housing in lower Manhattan
- The current building needs $230 million in capital repairs
- The project also aims to provide modern office space for city agencies
- A community land trust proposal is not precluded, but needs to balance multiple objectives
Gale A. Brewer
1:47:02
Okay.
1:47:02
And then finally, 100 Gold, I know that it's gonna be public.
1:47:05
It's gonna be private and profit, I guess.
1:47:08
But the community board wants, as I'm still paying attention to the community boards all over the place.
1:47:13
They wanted it to be a community land trust.
1:47:15
Why couldn't it be this is city owned land.
1:47:18
Why couldn't it be a community land trust and a % affordable?
Ahmed Tigani
1:47:21
I I I would say three things to that.
1:47:23
One, there's an RFP now, so any respondent there's nothing that precludes any particular coordination or organization of teams.
1:47:31
So if there's a team that wanted to come in with that proposal, they could.
1:47:34
But there is three things we're trying to solve here.
1:47:37
One, lower Manhattan has not built significant affordable housing in this way in a long time.
Gale A. Brewer
1:47:45
Well five World Trade Center,
Guillermo Patino
1:47:46
they didn't wanna When
Ahmed Tigani
1:47:47
you look at the number of units created over the last ten years, this project could deliver 10 times Yeah.
Gale A. Brewer
1:47:53
Want it all to be 100% affordable.
Ahmed Tigani
1:47:55
The other piece of it is that 100 Gold, which houses several city agencies, and know, these public Including the yep.
1:48:02
Work in a building that needs $230,000,000 of capital repairs.
1:48:07
This is also an opportunity to put those public servants in a place where they can work in a modern office as well, including us here.
1:48:15
And so weighing both the additional proceeds that needs to do that, delivering the housing, and again, if there's additional money that goes beyond that, affordability increasing affordability would be one of the things we try to do.
Gale A. Brewer
1:48:29
Okay.
1:48:29
But community land trust might have been something to include as part of this discussion.
Ahmed Tigani
1:48:33
It's not precluded, and so teams
Gale A. Brewer
1:48:35
should You can see we go back and forth.
1:48:37
Thank you very much, madam chair.