Council Member Brewer on Dewitt Clinton Park North — project overview and Hudson River Park Trust payment
Brewer explains the two separately owned buildings, the FAR transfer from Hudson River Park Trust generating at least $29 million, and extensive community board engagement with CB4.
Thank you, Madam Chair.
These two buildings, as you suggested, are being considered together in the area of 54th Street and 11th Avenue.
They are separately owned.
Most of the discussions were with Mr.
Freeland and not the Chapman organization when we spoke to them.
And they are getting what we call Farah, which is basically height, from Hudson River Park Trust.
It's a good project where Hudson River Park Trust, which, you know, every time you look at a...
Peer that needs assistance like peer 76 it's
millions and millions of dollars.
So the least that these buildings will pay Hudson River Park Trust is $29 million, which is around $200 a square foot.
We also think that maybe they should pay more, but that's what it is at the moment, and they'll have to work it out.
There have been many, many meetings between Community Board 4 and the developers, and I participated in them, both in person at the Community Board and then Zoom discussions with these parties, as well as the Council Land Use staff.
And I certainly want to thank Paul Devlin and Joe Restitio from Board 4, as well as the Council Land Use staff here.