Chelsea's long nightmare is?well, still happening, if we're talking about the part of Chelsea that opposes the redevelopment of Chelsea Market. The City Council's land use subcommittee voted to approve the necessary rezoning, after last-minute closed-door discussions that led to a few more plan updates. Developer Jamestown properties had most recently agreed not to alter Chelsea Market's windows or facade and to set up an internship program at the Fulton Houses nearby. The Bloomberg administration has now also promised city funding for 150 units of affordable housing in the neighborhood. That funding is a guarantee, the Journal explains, even if the rest of the project doesn't end up happening. Assuming it does, Jamestown's promised $4.7 million contribution to a city affordable housing fund will repay the city's investment in those 150 units.
The City Planning Commission needs to approve the plan now that it has been modified. Then it bounces to the full City Council, which will discuss it October 30. Our quips and zingers list will be updated, of course.
· Late Deal Helps Chelsea Market Expansion Clear Hurdle [WSJ]
· Christine Quinn Brokers Deal to Build Atop Chelsea Market [NYT]
· Chelsea Market coverage [Curbed]