DE BLASIO PROTECTS RESIDENTIAL BROOKLYN FROM HIGH RISE DEVELOPMENTAtlantic Yards, and the transition between a border zone and a historic district, has not gotten the same attention from de Blasio.
CITY COUNCIL IS EXPECTED TO PASS DOWN-ZONING IMPOSING STRICT HEIGHT LIMITS ON BUILDINGS IN CARROLL GARDENS
NEW YORK – The New York City Council today is expected to pass a zoning proposal sponsored by Councilmember Bill de Blasio which will protect a residential Brooklyn neighborhood from high rise development. The proposal imposes height limits on buildings in Carroll Gardens, capping them at 70 Feet or approximately 5-6 stories.
“For the past two years, we have been fighting to preserve the character and context of a unique Brooklyn neighborhood. Today, I am proud to announce that the Council will vote to legally protect residential blocks in Carroll Gardens from being transformed by out-of-scale development. This victory would not have been possible
without the many community organizations and activists who demanded that the voice of their neighborhood was heard,” said Councilmember Bill de Blasio.
“I applaud the City Council for adopting the Carroll Gardens rezoning proposal that was developed by the Department of City Planning in consultation with Community Board 6 and local community organizations. I am also pleased that, with few exceptions, the resulting zoning change largely reflects the community's desire for limiting building heights to fifty feet. The rezoning will go a long way in achieving the community's objective to preserve the unique ambience and character of the neighborhood,” said Brooklyn Borough President Marty Markowitz.
Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.
The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.
While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…