"The former factory and warehouse complex will be redeveloped into housing thanks to the city council's approval of its rezoning earlier this month. After serving as a controversial migrant shelter, the huge former factory and warehouse complex at 47 Hall Street in Clinton Hill will be redeveloped as mixed income housing with a new skyscraper and adaptive reuse of existing factory buildings, some of which were originally home to the Mergenthaler Linotype Company."
"At an August 6 Subcommittee on Zoning and Franchises meeting, council members required the development team behind the proposal, RXR, build using option one of the Mandatory Inclusionary Housing program. That option requires 25 percent of the total apartments built, or 153 units, are made available to families earning an average of 60 percent of Area Median Income. Currently, that would be around $87,480 for a family of three. At 60 percent of AMI, a two-bedroom would rent for $2,187 a month."
City Council approved rezoning for the former factory and warehouse complex at 47 Hall Street, enabling redevelopment into mixed-income housing. The project will total around 611 apartments, combining a new skyscraper with adaptive reuse of historic factory buildings that once housed the Mergenthaler Linotype Company. Under Mandatory Inclusionary Housing option one, 25 percent of units (153 apartments) will target families at an average of 60 percent of Area Median Income, with a two-bedroom at that level renting about $2,187 per month. The remaining 458 apartments will be market rate. The development will include publicly accessible open space, retail for local businesses, and create 530 construction and 350 permanent jobs.
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