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Estimated timeline for housing development in relation to street improvements
1:02:43
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Council Member Hudson inquires about the estimated timeline for housing development following the rezoning and how it aligns with the proposed street improvement timeline. City Planning representatives provide insights on development projections and potential challenges.
- City Planning estimates a 10-15 year conservative build-out for housing development
- Development is likely to start immediately after rezoning but will occur gradually
- Concerns are raised about the mismatch between housing development and infrastructure improvement timelines
- The importance of coordinating housing development with street improvements is emphasized
Crystal Hudson
1:02:43
Okay.
1:02:44
Let me just ask city planning this question.
1:02:47
With a rezoning like this one, what is your estimated timeline?
1:02:54
And I know this is it's just speculative.
1:02:58
What is your estimated timeline for when some of the first housing might be built?
Alex Sommer
1:03:03
That's a great question.
1:03:04
So for the purposes of our environmental review, we generally estimate ten to fifteen years for conservative build out.
1:03:14
I will note in full disclosure, right, that it is somewhat dependent on sometimes, for example 421a deadlines.
1:03:23
So Gowanus, we saw construction happen faster because people were trying to get in the ground quicker to meet those But with 485x I think developers are still trying to feel out what the implications are.
1:03:35
So I think a fair conservative estimate is we will likely see development start immediately after a rezoning.
1:03:42
But all those sites will not be developed.
1:03:45
They will be developed over a course of like ten to fifteen years.
Crystal Hudson
1:03:48
Okay.
1:03:49
So I guess according to that seven to ten or six to ten year timeline for the streets would potentially be in line with housing development.
1:04:01
Although I would argue nothing should take quite that long, especially this isn't like the entirety Of Atlantic Avenue.
1:04:11
This is just a very relatively small I wouldn't say very, but a relatively small corridor.
1:04:18
And it is important, obviously, for us to take into account the timeline for potential housing development.
1:04:25
If we're building the units and the people are coming, but we're not investing in the infrastructure until years after that, then it sort of doesn't really make sense.