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By Accord Real Estate Group

Gowanus Residential Development Projects Move Forward

February 25th 2024
Tags: All about Brooklyn New York, Brooklyn Real Estate

Governor of New York Kathy Hochul has revived the expired 421A property tax break program for developers in Gowanus, Brooklyn that include a percentage of affordable units in 18 new individual projects.

Under the Gowanus Neighborhood Mixed Income Housing Development Plan, more than 5,300 apartments, including more than 1,400 affordable units will get built. Charney Companies and Tavros Holdings are the developers.

 The 421A Gowanus Program is being overseen by Empire State Development. Each of the 18 project sites will be considered and voted on by ESD Directors, followed by Public Authority Control Board review.

The site of the 550,000 square foot 320 and 340 Nevins Street project is on 2.3 acres fronting the Gowanus Canal. The site is part of the Gowanus Public Access Area near public transportation.

The development project was designed by Fogarty Finger Architects with design and landscape elements done by James Corner Field Operations.

The Nevins Street project and many others in Gowanus are being made more doable by the Department of Environmental Conservation's Brownfield Cleanup Program, which provides incentives for the revitalization of the former Brownfield sites.

According to New York State Senator Andrew Gournardes “This is about more than building housing. It's about building opportunities for families of all backgrounds to put down roots, live and thrive here”.

Assemblymember Jo Anne Simon (Downtown, Dumbo. Carroll Gardens and Park Slope) said “The urgency of New York's housing crisis is clear. I commend Governor Hochul for finding a creative way to secure new housing in Gowanus in a manner that provides the developer ample time for the comprehensive cleanup of these toxic brownfields”.

Katia Kelly of the Voice of Gowanus, a Brooklyn's neighborhood organization that opposes the Gowanus Redevelopment Plan said “Most of the Gowanus development touted by Governor Hochul is on land that remains polluted”. Voice of Gowanus continues to request that Governor Hochul remediate all inactive hazardous waste disposal sites, brownfields, hazardous substance releases and other documented contamination threats to the Gowanus community in strict compliance with State mandates”. “Voice of Gowanus has reminded Governor Hochul that she has a duty to safeguard our state's public health and environment by strictly enforcing applicable laws and regulatory requirements”.

To be continued...

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