Richard Lobel describes proposed development: 410 units, 18-story building
Lobel details the proposed 18-story, roughly 334,000-square-foot mixed-use building with 410 dwelling units (408 income-restricted via ELA program), approximately 315,000 square feet residential, 10,000 community facility, and 7,800 commercial. The new building would approximate the height of the adjacent existing 19-story building.
The next slide, the proposed development, what would result here from these actions?
Quite simply, over 400 units of affordable housing pursuant to the Deeply Affordable Program, or ELA, with HPD, as well as some community development.
facility and commercial use.
So here this would permit an 18-story building, roughly 334,000 square feet of mixed residential community facility and commercial uses along the West 25th Street portion of the site.
We'll go over the maps in a few moments.
Right now there's an existing 19-story building adjacent
along the West 24th Street portion of the site.
So the new building would approximate that height and be slightly less.
Here, this would allow for the creation of 410 dwelling units, 408 of which would be income restricted pursuant to the ELA program.
The building would consist of roughly 315,000 square feet of residential floor area, roughly 10,000 square feet of community facility, and 7,800 square feet
proximate of commercial floor area.
Why is this rezoning appropriate?