Closing Bell: City Council Says OK to 77 Commercial Street

Council Member Stephen Levin and the rest of the City Council voted today to approve the two controversial high-rise towers at 77 Commercial Street near the Greenpoint waterfront, according to Levin’s office. The 30- and 40-story towers will bring 200 units of affordable housing as well as $9,500,000 in city funding to create Box Street Park. Affordable housing will make up 28 percent of the total apartments, with a range of 40 to 125 percent Area Median Income.

The city and the developer will provide $14,000,000 in funding to relocate all of the vehicles currently at the park site, including MTA Access-a-Ride vehicles and Emergency Response Units. And the developer promises 9,500 square feet of open space around the two towers, “as a second fully landscaped walkway to serve as community access from the east” and a path to where Commercial Street dead-ends at the industrial waterfront. There will also be a free shuttle to the 7 and G trains (paid for by the developer), and the MTA will work with the developer to run a bus line along Commercial Street.

The development will include at least 5,000 feet of community space, and retailers must occupy less than 5,000 square feet, with preference given to neighborhood businesses. The developer is not allowed to lease to “big box” retailers.

Council Passes Greenpoint Landing, Local Board Votes Yes on Domino [Brownstoner]
Finally, Action on Two Long-Promised Waterfront Parks in Greenpoint [Brownstoner]
Marty Says Yes to Controversial Greenpoint High Rise Projects [Brownstoner]
Rendering by CentraRuddy and MPFP via Wall Street Journal