NEW YORK CITY—After acquiescing to Mayor de Blasio's demand for more affordable housing at the Domino Sugar redevelopment site, Two Trees Management received a sweet reward: its building application was unanimously approved by the City Council, according to Crain's New York Business.
"We want to encourage development with bold designs and great site plans like Domino," newly appointed City Planning commissioner Carl Weisbrod said at Wednesday's hearing. "We know this increases the value of development, and we also want to ensure that the public can share in the increased value through the provision of affordable housing."
To reach that goal the city commission and mayor's office reached a deal with Two Trees principal Jed Walentas to include 537,000 square feet of affordable housing on the site. The overall site is slated to include 2.2 million square feet of residential space, nearly 500,000 square feet of commercial space and about 110,000 square feet of retail.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
