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Halletts Point megaproject stalls—again
The Durst Organization says it plans to hold off on the remainder of its seven-building megaproject in Astoria, Queens until the next mayor takes office—the latest episode in a years-long spat between the developer and the de Blasio administration, Politico reports.
The bone of contention is a $21.6 million city financing package pledged in 2015 to mitigate infrastructure costs at the waterfront complex, which would include 2,002 rental units. Changes to a state tax abatement program included in the project’s financing require an additional five percent of units be enrolled in the city’s affordable housing program. But when Durst proposed a mechanism that would pave the way to financing without kicking in additional affordable housing, the city declined to move forward, according to Politico.
“We will not cut special deals that result in more profit for developers and less affordable housing for New Yorkers,” mayoral spokesperson Jane Meyer told Politico in an email.
And in other news…
- Reports of Fairway’s demise were slightly exaggerated, but the chain is filing for Chapter 11 bankruptcy, and the fate of its NYC stores is unclear.
- A planned supertall tower at 45 Broad Street is now on hold because of “market conditions.”
- The MTA has launched a formal study of converting 16 miles of underused freight tracks from Bay Ridge, Brooklyn to Astoria into a new transit service.
- Build It Back, the beleaguered program launched to rebuild homes damaged by Hurricane Sandy, needs an additional $92 million to cover repairs and other work, the city says.
- The City Council is set to pass a bill Thursday that would ban cashless businesses.
- Last night’s rush hour commute was messed up thanks to reports of—ugh—bed bugs.
- And finally, read this obituary of Lee Gelber, a longtime tour guide and a true New York City character.