credit: Brookfield Properties
If you’ve been in Greenpoint recently, you’re likely already familiar with the looming monstrosity known as The Greenpoint and its ugly neighbors Stephen Levin Towers. The once-quiet neighborhood has been menaced by the construction of these new towers for the last year two years. Now, these out-of-scale condos for the rich are getting some neighbors on the superfund site known as Greenpoint Landing. Together, they will add another 1,240 units to the transportation-challenged neighborhood. Apparently, people have already forgotten that the entire Landing was underwater during Sandy. Oh well, money talks:
The Toronto-based firm [Brookfield Property Partners], in partnership with the Park Tower Group, announced plans on Thursday for two more buildings at Greenpoint Landing with a total of 1,240 units — one-third of which will be set aside as affordable housing. The towers will cost around $1 billion and construction is expected to start in 2019.
Park Tower is currently developing Greenpoint Landing, a 22-acre site that spans a half mile along East River in Brooklyn. Up to 5,500 units are expected to be built on the site, of which 1,400 will be affordable. The area was rezoned for residential use in 2005 by the Bloomberg administration.
Brookfield and Park Tower have already constructed two rental towers at the development site, and leasing is start by the end of the summer. Those towers — one 30-story, 365-unit building and a larger 40-story, 415-unit structure — were built on Commercial Street with project costs estimated at $600 million.
Ric Clark, Brookfield’s chairman, said along with the towers, the completed Greenpoint Landing will house a school, retail space and a waterfront esplanade.
Brookfield has made a flurry of development announcements in New York recently, including its takeover of an ambitious waterfront site in the Bronx for $165 million and an addition to its Manhattan West development, adjacent to Hudson Yards.
Thanks City Council!
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