Two Trees Management has plans for a 1.3M square foot project in Williamsburg, Brooklyn NY which has been in the works since 2019 and is now being relaunched. Designed by Bjarke Ingels and James Corner Field Operations, the project will have 1,250 apartments, a 50,000 square foot YMCA, 60,000 square feet of offices and 23,000 square feet of retail space. Also planned is a 3 acre public park and a 250 space parking garage.
There will be an affordable housing component to the project comprised of 236 units which will go to families earning 60% of the area median income (AMI) or $68,000 per year for a family of 4.
The towers will rise to 49 and 64 stories. The 400,000 square foot development site stretches from North 1st to North 3rd Streets and between River Street and the East River. It is one block away from the Two Trees other Williamsburg project the redevelopment of the Dominoe Sugar Refinery properties.
The River Rings project public waterfront will connect with Domino Park which stretches along the waterfront for a few blocks.
Two Trees will need a slew of zoning changes for the project to move forward. The property currently zoned for manufacturing uses would need to be rezoned for high rise mixed use development.
Local City Council members will have final say over the project. If approved the project will begin construction end 2023 and be completed by 2027.
If you are interested in selling your property or you know someone who is planning to sell their New York or Brooklyn 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.
Accord Real Estate Group
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