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By Accord Real Estate Group

Bushwick, Brooklyn Rezoning Update

December 4th 2019
Tags: Brooklyn Blog, Real Estate News

Bushwick has evolved into an eclectic community with vibrant and diverse residents and businesses. However, Bushwick is at a crossroads. The Department of City Planning has released an outline for a rezoning plan for Brooklyn’s Bushwick neighborhood.

The outline includes new affordable housing developments, stricter zoning to curtail development and landmarking initiatives to preserve historic areas.

The new zoning laws would cover approximately 300 city blocks between Broadway, Cypress Avenue, Flushing Avenue and Broadway Junction. The plan creates opportunities for affordable housing units, Community and Commercial space along Broadway, Myrtle Avenue and Wyckoff Avenue. Plans for Knickerbocker, Central and Wilson Avenues will only allow medium density and mixed income housing. Plans for side streets and small corridors will limit building height and new buildings must conform to the height of neighboring houses.

The rezoning is estimated to result in a net increase of approximately 5,600 dwelling units, over 1.6M square feet of commercial space, almost 300,000 square feet of industrial space and nearly 250,000 square feet of community facility space. Future development is estimated to introduce nearly 18,000 new residents and 6,200 new workers to the area over the next 10 years.

The Bushwick anti gentrification community plan calls for a down zoning of the neighborhood. The community is battling against the displacement of low income communities of color in favor of luxury development. The community is looking for mandatory inclusionary housing, a program that dedicates a certain percentage of housing to “affordable units”.

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,
Accord Real Estate Group
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