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Greenpoint Landing Towers Could Break Ground This Year

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Buried in a Times article published last July was a nugget of news from developer Park Tower Group: they hoped to break ground on Greenpoint Landing, a 10-tower luxury development along the Newtown Creek, in late 2013. Then in October, tenants started moving out. In November, neighbors started protesting. And now, Park Tower Group is ready to meet the masses as they plan to unveil the 20-acre proposal at a public meeting tonight. The proposal calls for 10 towers rising between 30 and 40 stories each with some 5,500 apartments. Crain's reports that the Uniform Land Use Review Process will begin in June, and the developer hopes to begin construction in by December or January.

Handel Architects are still the project designers, but the look of the development has changed from a collection of glassy towers (above) to brick buildings that are decidedly more warehouse-like (top image). Handel says the new design is "a nod to the area's industrial history." Currently, the project has no financing, but Park Tower VP told Crain's they are in "advanced discussions with a number of lenders."

Crain's notes that the buildings could actually rise as-of-right because of the 2005 rezoning, but the ULURP process is necessary because Park Tower wants to modify the original plans, which have been in the works for a decade. The developer wants to incorporate a city-owned parcel of land that would add an additional 431 units of affordable housing (there's already 1,000 affordable units planned). Park Tower also needs a zoning variance because they agreed to build a school, and the public waterfront promenade needs to be rethought to better deal with storm surges and flood protection.

As for that Santiago Calatrava bridge? It's still in the proposal, but it would not be built until a later phase, several years down the road. The whole thing will take eight to 12 years to complete. Maybe by that time, the G train won't suck as much.
· Back From the Drawing Board [Crain's]
· Greenpoint Landing coverage [Curbed]