840 Atlantic may qualify for 421-a benefits well before McDonald's case is resolved.

See collected coverage of M-CROWN rezonings: click here.

Let's so how this works. 

The developers of 840 Atlantic Ave., who've apparently proposed two separate buildings on a lot currently occupied mostly by a drive-through McDonald's, have filed plans to have foundations installed by June 15, to take advantage of the current 421-a tax break, as I wrote.

They apparently plan to build foundations well before any litigation filed by McDonald's--which is aiming to block its eviction--is resolved. 

According to a briefing schedule proposed by the landlord/defendant Vanderbilt Atlantic Holdings, as shown below, all papers must be filed by June 27. 

That's after the 421-a deadline.

That suggests the possibility that initial footings will persist for a significant period, while the case is being resolved. 

Update: no communication with CB 8

Just as the developers of 840 Atlantic did not respond to questions from me, they have not been in communication with Community Board 8, which means the announced commitments--including permanent low-cost space for an arts center and affordable housing under Option 3 of Mandatory Inclusionary Housing--are in question. 

"In fact, the 840 Atlantic applicants did execute a CBA prior to CB8’s September full board meeting," CB 8's Gib Veconi told me. "CB8 would have countersigned had the motion to adopt the Land Use Committee’s recommendation passed. The CBA contained commitments for MIH 3, arts center space, and height and setback requirements. The agreement envisioned a single building, but didn’t require it. I can’t speculate whether the applicants would have agreed to a single building."

I would note that the announced 17-story height of the taller building does seem to conform to the agreement, and it would be very bad politics not to include the art center.