Manhattan building firm Park Tower Group is developing a massive half-mile stretch of waterfront, dubbed “Greenpoint Landing,” along the shoulder of Brooklyn’s northern-most nabe, in a project that promises great views of Manhattan, along with coastal strolls along the East River — and the fetid Newtown Creek!
The property, which fronts both West and Commercial streets, will include approximately 5,500 residential units, almost one quarter of which will qualify as affordable under U.S. Department of Housing and Urban Development guidelines — which, in New York City, includes monthly rents starting at $375 for a studio and up to $4,501 for a three-bedroom apartment.
The mega project will also feature a new pre-K through eighth-grade public school, and public space equal in size to about three football fields.
The developer and its Manhattan partners at L and M Development have already constructed three buildings, including 7 Bell Slip, 33 Eagle Street, and 5 Blue Slip, which together house 294 affordable apartments, with rents starting at $368 for a studio, $396 for a one-bedroom, and $482 for a two-bed. Reps for the firm did not respond to questions regarding the cost of all affordable rentals, including the most expensive units.
Park Tower Group has also teamed up with Brookfield Properties to build roughly 2,000 new rentals on the waterfront, the first of which, 359-unit One Blue Slip, opened in August of last year with an adjacent green space.
The builders are also erecting 421-unit 2 Blue Slip and the another stretch of public space will open along the waterfront early next year.
They will break ground this summer on two new Tetri-block-shaped towers designed by international architects OMA, which will bring 745 units of housing — 30 percent of which qualify as affordable — and will expand the waterfront esplanade.
By the end of the project, the open space will include a lawn, picnic area, a garden walk, and some salvaged maritime pieces found at the site, all of which they will hand back to the city to become public park land.