That’s what Dean Palin, developer of the Oro on Gold Street, is hoping he can create at 155 West Street, between Huron and India Streets. The Brooklyn Paper reports that the 2005 upzoning of the area allows for 30 stories, but Palin is aiming for 10 more (other north Brooklyn waterfront developments, The Edge and Northside Piers, didn’t rise to the 30-story allowance). Palin’s vision includes a 422-unit rental tower as a piece of a 620-unit development, with a $2 million waterfront esplanade and three six-story buildings with 218-units, some 140 of them affordable. But affordability’s not why Palin wants more height. “The developer claims that he needs to make his high-rise 10 stories taller than zoning allows because he cannot build within 50 feet of a sewage pipe that runs through the lot, and he cannot touch a 25-foot section of wetlands at the corner of the property, said Ken Fisher, a former councilman who is representing the builder.” Public records show Palin paid a whopping $84,750,000 for the site a couple years back and has just recently filed for demolition permits; financing for the build out, though, is not yet in place. Fisher hopes that’ll happen by spring of 2009.
40 Stories and a Rule [Brooklyn Paper]