What's the latest news surrounding Brooklyn Bridge Park's Pier 6 Project?
Rendering of the Brooklyn Bridge Park Pier 6 Project via New York Yimby
Last summer, RAL Development Services and Oliver’s Realty Group were announced as the developers behind the Brooklyn Bridge Park residential project — a much publicized proposal to turn the park’s southern stretch of Brooklyn Heights, known as Pier 6, into a 339 unit, dual-building apartment complex designed by ODA Architecture. The announcement marked a successful win for the Brooklyn Bridge Park Corporation project, which has been met with opposition from detractors despite the fact that the lawsuit between BBPC and plaintiff People For Green Space protesting proposed affordable housing in the buildings was settled. Things were looking good for the projected waterfront residential buildings, one of which would contain solely market rate condos and the other a combination of market and affordable rate rentals — that is, until now. The continued opposition of elected officials and local residents to the affordable housing units has put a temporary hold on the project, which was on its way to being the crowning glory of Mayor de Blasio’s affordable housing plan.
You might be asking ’why such a protest against affordable housing?’ We’ve parsed out the details surrounding the issue to keep you informed.
Essentially, the organization People For Green Space balked at the idea of affordable housing within the complex because those units would generate less revenue than market rate residences, thus generating fewer dollars to maintain funding for the park’s overhaul. The park’s overhaul, 85 acres in total, is a joint venture from New York City and Albany, and both parties were initially confident that this residential and commercial development would easily generate the financials required to maintain Brooklyn Bridge Park. However, continued opposition from officials and local residents began chipping away at Albany’s resolve, and the state currently feels that a further conversation is needed before making final plans regarding the fate of the project.
While the city maintains that the money generated by the project will more than pay for the cost to build, opposers in the community hold fast in their stance that the city could find other ways to maintain the park besides a new residential complex. New York State is currently holding out on giving the project the green light (again) until a greater discussion is had, but the city, and the mayor, remain hopeful that this major achievement towards a grand scale marriage of luxury and affordable housing come to fruition.