- Associated Press - Tuesday, March 4, 2014

NEW YORK (AP) - A redevelopment plan of the former Domino Sugar refinery in Brooklyn has moved forward after the city struck a deal to include more affordable housing units in the project.

According to The New York Times (http://nyti.ms/1i9wu6X ), the deal was struck Monday after the developer agreed to set aside about 700 units for low- and moderate-income housing.

Originally, 660 affordable units out of 2,300 were planned.

In exchange, the developer is expected to get a zoning variance to build 55-story towers, 20 stories higher than regulations permit.

The $1.5 billion project has been in the works for years. It calls for residential towers, office space, a school, park space and a revamped esplanade along the East River.

The City Planning Commission is expected to vote on the proposal on Wednesday.


Information from: The New York Times, http://www.nytimes.com



Click to Read More

Click to Hide