March 5, 2014
By Stephanie West
New York, NY — Mayor Bill de Blasio has announced the city has reached an agreement with Two Trees Management on the Domino Sugar development site located on the Williamsburg waterfront. Two trees will now increase the amount of affordable housing by 110,000 square feet for a total of 537,000 square feet of affordable housing.
The proposal will create 700 affordable apartments covering a range of incomes, including a significant number of units sized for families. Affordable apartments will be integrated throughout the complex, ensuring a dynamic mixed-income community. Unlike prior proposals, all of those units will be permanently affordable. Work on the first building will begin in December 2014.
“We set out from Day One to get the best possible value for the public. This partnership delivers on that commitment,” said Deputy Mayor for Housing and Economic Development Alicia Glen. “We are securing more of the affordable housing families in Williamsburg need, and we are doing it by working together. This agreement is a win for all sides, and it shows that we can ensure the public’s needs are met, while also being responsive to the private sector’s objectives. I am profoundly thankful to City Planning Chairman Carl Weisbrod and our combined teams for their work reaching this outcome.”
The agreement increases the percentage of affordable housing to 700 units out of over 2,200 apartments in the 2,928,429 square-foot project. Mayor de Blasio has set a goal of building and preserving 200,000 affordable apartments over the coming decade.
