Search
 

Two Trees Relents on Affordable Units at Domino Site

NEW YORK CITY—The developer bowed to Mayor de Blasio's demand for a higher amount of affordable housing at the nearly three million-square-foot mixed-use complex.

By Rayna Katz | Updated on March 04, 2014

NEW YORK CITY—After saying it couldn’t be done, Two Trees Management has reached an agreement with the city to include more affordable housing units in its Domino Sugar site mixed-use complex.

The developer will boost the project’s affordable component by 700 units spanning 110,000 square feet; it had planned already to include 660 apartments for low- and middle-income tenants in the development. Mayor Bill de Blasio threw the developer a curve ball recently when he strongly urged it to build more affordable housing into its plans in exchange for zoning rights it needs to give residential units at the site some fantastic views of Manhattan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.