Under inclusionary zoning codes, a developer putting up a big market-rate tower in downtown Brooklyn can put up an even bigger market-rate tower if he agrees to build some affordable housing. The kicker is that he doesn’t even have to include the affordable portion on site: He can stick the affordable units in a cheaper part of town and still earn the market-rate bonus. Which is how 15 Quincy Street came to be. Instead of including the 48 affordable units in its 40-story tower at Myrtle and Prince, BFC Partners is putting them on Quincy across the street from the Salvation Army. Do you think developers who benefit from inclusionary housing should be able to build the affordable portion off-site?
Development Question on Quincy [Brownstoner] GMAP P*Shark DOB
PACC Keeps Busy, Breaks Ground on Quincy [Brownstoner]
Two Towers, One On, One Half Off (Site) [Downtown Star]