Coun. Josh Matlow expressed concerns about the potential impact of the airport expansion on housing supply, stating, 'If we need smaller buildings on the islands, what will the ability be to actually create these affordable housing projects?'
The structure pairs $150 million of equity from GTIS investment vehicles with $50 million from Hovnanian, or 25% of the equity capital. Total build-out costs are projected at about $545 million, supporting an estimated $617 million in home value.
Galliard Homes reduced the amount of affordable housing in the project's housing stock from 35 per cent to just 10 per cent, citing increased construction costs and changing building regulations as key factors.
I understood at a very early age how much place matters and how impactful government services can be on one's life. The Mayor's Office of Equity and Racial Justice was really focused on working with agencies to think about how they're addressing inequity, whether it's through budget as a lever or personnel as a lever, procurement, policymaking. But land use is a lever as well.
Jersey City is diverse and has a cultural depth that the locals are only too happy to share. The city opposite New York City on the Hudson River has breathtaking views of the Big Apple's skyline and the Statue of Liberty is clearly visible. Despite New York having legal jurisdiction over the statue, her location is within the boundaries of Jersey City.
The city has rebuilt large stretches of East River Park and raised portions of the shoreline to blunt storm surges and future sea-level rise. The elevated terrain now does double duty as public playground and flood barrier, with new courts, lawns and pathways taking over much of the old footprint.
Construction remains paused for now and we continue to work with our contractors to plan how to deploy these funds in the most effective way and get workers back on the job to resume some construction as soon as possible,
The plans would affect an area known as Royal Victoria Dock West, which is the end closest to London City Hall and the Cable Car. If carried out, the two biggest changes will be a range of floating walkways reaching into the dock, lined with water plants. The other change will be the introduction of walkways on the south side of the dock for long-term residential boat moorings.
RED HOOK - A SPECIAL EXHIBITION - "Brooklyn Marine Terminal: Past, Present, & What's Next for Red Hook?" - will hold its opening Friday night from 6 to 8 p.m. at the Compere Collective, 351 Van Brunt St. in Red Hook. The display, hosted by Resilient Red Hook in collaboration with Pratt Institute's School of Architecture, features student work that explores alternative visions for the BMT, bringing academic insight, community priorities and design innovation together.
COLUMBIA STREET WATERFRONT DISTRICT - The City Club of New York trustee Tom Fox introduced on Tuesday a new to redevelop the 122-acre "all-maritime" proposal Brooklyn Marine Terminal situated on an industrial waterfront site stretching from Atlantic Avenue to Red Hook on the East River. Fox, co-founder of New York Water Taxi, the precursor to NYC Ferry Service, has numerous civic credits to his name, including spearheading the creation of the Brooklyn-Queens Greenway and co-founding the original Brooklyn Bridge Park Coalition.
The Waterfront Committee will hold a virtual meeting on Zoom on Tuesday, Feb. 24, at 6:30 p.m. Diana Switaj and Judah Asimov of the city Economic Development Corporation will continue discussions on Pier 1. A $2.5 million federal investment was announced in 2024 to help restore the long-shuttered St. George fishing pier and revitalize the borough's North Shore. The Zoom link is: https://us02web.zoom.us/j/7364226579?omn=82363722724 The meeting ID is 736 422 6579.