A dark era in the history of Williamsburg's Domino site has ended, as the legal battles over the property wrap up and developer Two Trees closes on a deal to buy it all for $185 million. The next step for Two Trees is, of course, to change everything. The Journal hears from sources that the developer has some major modifications in mind to the earlier CPC-Katan Group plan for the property. That plan called for 2,200 residential units, two 34-story towers, two more buildings up to 30 stories, and the restoration of the dilapidated Domino buildings. But what fun is it to pursue a plan that's already been approved, especially if you're Two Trees, creator of Dumbo?
Instead, Two Trees reportedly hopes to add office space and "a better open-space plan" to the Domino site. Some of the affordable housing?the CPC-Katan plan had called for 30 percent affordable housing?might also go. Two Trees has promised to talk to the community, and these kinds of changes will need fresh approvals.
· Domino Site Heads for Next Chapter [WSJ]
· Domino coverage [Curbed]