NEW YORK CITY—City Council has agreed to allow tall towers at the former Domino Sugar refinery on the Brooklyn waterfront, according to the Wall Street Journal. The move is a big step forward on Two Trees Management's mixed-use development at the site, as well as the first significant land-use proposal under the new mayoral administration.
The Domino Sugar site has a lengthy and difficult history but recent negotiations among Mayor Bill de Blasio's administration, the City Council and the developer have put the project on the verge of final approval.
The deal would allow Two Trees to build as high as 55 stories—15 stories above anything else on the Brooklyn waterfront. In exchange, the developer agreed to certain affordable housing requirements.
The deal locks in an average rent for the below-market rate housing portion of the project that would be affordable to families of four making 70% of the area median income, or about $60,000 a year. That was a crucial issue for City Council members, who were concerned about ensuring the roughly 700 low-cost units were affordable.
Under Mayor Michael Bloomberg's affordable housing plan to build or preserve 165,000 units, the majority of housing was affordable to people making 40% to 80% of the area median income.
The City Council's Committee on Land Use voted on Thursday to approve the project, including support from the area's City Councilman, Stephen Levin. The City Council is set to vote on the project Tuesday and it is expected to pass with Levin's support.
The Domino Sugar site is a test of Mayor Bill de Blasio's campaign promise to deliver more affordable housing with fewer subsidies by offering developers the opportunity to build taller towers, notes the Journal.
"A lot of people in the real estate community saw this as a guinea pig," says David Lombino, director of special projects for Two Trees. "The answer is clear. If the project provides significant affordable housing and other community benefits then this administration and the City Council are open for business."
"After weeks of discussions we have reached an agreement on the project at the Domino Sugar site that will build on the gains made by the de Blasio administration to maximize affordable housing and open space to the Williamsburg community," says Levin.
The City Council vote brings near to an end a long-running negotiation that spanned two administrations and two developers over the future of the site.
Says Lombino, “We are grateful to Speaker Mark-Viverito, Council Member Levin and Council Member Reynoso for their partnership throughout this process and commitment to making the Domino Sugar project a great benefit to the community. We look forward to getting started on a development that will deliver affordable housing, reconnect the community to the waterfront and bring jobs back to Domino.”
City Council did not respond to a request for comment.
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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.
