Restler on Monitor Point development in Greenpoint
Council Member Lincoln Restler expresses support for the 40 Quay Street Monitor Point project, noting affordable housing tripled from 247 to 662 units (50% of total), with deeply affordable units for seniors and 110 supportive housing units. He highlights 50,000 square feet of green space, $300,000 annual park maintenance contributions, ADA-accessible G train elevator, and MTA facility relocation.
Thank you, Majority Leader.
I am pleased to express my support today for the proposed development at 40 Quay Street in Greenpoint, also known as Monitor Point.
Since this project was first proposed about five years ago, I have been clear that any development on publicly owned land must be primarily in the public interest.
And I'm grateful for the thousands, I mean that literally, thousands of neighbors who've reached out to me and to my team to share their perspective over the course of this process.
In direct response to our feedback, the developer has nearly tripled the amount of affordable housing, permanently affordable housing, that will be built on this site, from originally about 247 units to now 600.
62 affordable units, 50% of the total development.
And I think many of us and my community members for sure are jaded when we hear the term affordable housing.
Is it actually affordable?
And in this case, I can say yes.
A majority of the housing is deeply affordable.
I'm talking about a family of three making $76,300 per year will be able to rent a two-bedroom at $18,000.
We are building 161 housing units that are affordable for seniors.
That means a senior making $35,000 a year will be paying $900 a month.
And 30% of the affordable units, 110 in total, will be supportive housing.
Those are for people exiting our shelter system.
I pushed for even more, but I'm grateful that we were able to secure so many supportive units.
This development will also yield significant green space benefits for our community.
The developer will be adding over 50,000 square feet of green space.
The developer will be contributing $300,000 per year for 99 years toward the maintenance of Bushwick Inlet Park, the adjacent park space.
There will be two new public bathrooms that are accessible to park users and to neighbors.
And the MTA is relocating a facility from the northern tip of Greenpoint where we will be now able to fully build out Box Street Park, one of the other promised parks from the Williamsburg Greenpoint rezoning 20 years ago when we break ground later this summer.
We're getting a new, I know I'm done.
We're getting a new ADA accessible G train with an elevator.
G-Train, thank you to Speaker Menon for being a tremendous partner.
Kevin Riley, our land use chair, the land use team, the MTA, the Gotham, and others.
I appreciate you all.
And Clement Oyster.
Thank you.