The de Blasio administration is pushing for Two Trees to add more space for affordable housing — bigger units, not more units — in its redevelopment for Domino, The New York Times reported. That would mean fewer or smaller market rate apartments, which developer Jed Walentas says is not economically viable.
The move, which comes after Two Trees had voluntarily increased the number of affordable units and received widespread support from the community, is likely to send shudders through the real estate community. As John H. Mollenkopf, director of City University’s Center for Urban Research, put it, “This is curtains up on the first act of the real-estate drama for the new administration.” Even Community Board One’s Rob Solano, typically no friend of anything that whiffs of gentrification, said he hoped that the stand-off would not threaten the 660 units of affordable housing already baked into the current proposal.
From an architectural and urban planning standpoint, the city would certainly be worse off if Two Trees were forced to default back to the original plans developed by CPC.