Closing Bell: City Council Approves Rheingold Brewery Rezoning

The City Council voted yesterday to rezone the former site of the Rheingold Brewery in Bushwick, where developer Read Property plans to build a massive complex of about 10 buildings spanning about five blocks, DNAinfo reported. The mixed-use buildings will rise seven and eight stories high and house 977 rental apartments and 54,000 square feet of retail.

Councilwoman Diana Reyna and local housing advocates negotiated with the developer to increase the number of affordable units from 20 percent to 30 percent of the development. However, as DNAinfo pointed out, the deal with Read is not legally binding and not part of the plan approved by City Council.

Rezoning of Rheingold Brewery Site in Bushwick Approved by City Council [DNAinfo]
Bushwick Community Groups Call for Deal With Rheingold Brewery Developer [Brownstoner]
Rendering from Read Property via New York Daily News