The Gotham Organization has announced an increase in the affordable housing allotment for its proposed three-tower Monitor Point development at 40–56 Quay Street in Greenpoint, Brooklyn. Designed by FXCollaborative, the project consists of structures standing 600, 450, and 230 feet tall and will yield a collective 1,150 units. Under the latest proposal, 40 percent of the units, approximately 460 apartments, will be made permanently affordable. This figure is nearly double the 288 from the initial announcement, and was informed by five years of engagement with community stakeholders. The property is bounded by Quay Street to the north, Franklin Street to the east, and the Bushwick Inlet to the south and west.
Rendering of Monitor Point. Designed by FXCollaborative.
Monitor Point is being developed through a public-private partnership on a site that currently includes Metropolitan Transit Authority (MTA) operations and land from the Greenpoint Monitor Museum. The project features a two-building configuration: The tallest two towers will rise from a shared podium at 40 Quay Street and will yield a total of 950 units, with 260 designated for affordable housing. A separate 21-story structure will stand 108 feet to the east at 56 Quay Street and will yield 200 units that will be 100 percent affordable under the NYC Department of Housing Preservation and Development’s (HPD) New Construction Program.
Affordable apartments will include deeply affordable options, with average area median incomes (AMI) below 65 percent in one building and below 60 percent in the other.
40 Quay Street. Designed by FXCollaborative.
Rendering of Monitor Point. Designed by FXCollaborative.
Monitor Point will also include 50,000 square feet of publicly accessible waterfront space, a new permanent home for the Greenpoint Monitor Museum, and environmental resiliency improvements along the East River waterfront. In coordination with the MTA, Gotham will relocate key transit operations to a new facility in the North Brooklyn Industrial Business Zone, which will reduce truck traffic and allow for the realization of the long-planned Box Street Park.
The closest subway from the Monitor Point project site is the G train at the Greenpoint Avenue and Nassau Avenue stations. The property is also within walking distance of the Greenpoint East River Ferry landing.
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For a counter-argument to this proposal see “Save the Inlet” dir org on the web. This is an MTA public land give-away of one of the last & most pristine pieces of Greenpoint waterfront property that directly adjoins Bushwick Inlet Park and would destroy its beauty. This community can’t afford replacing some of the last greenery of Greenpoint with a greed that uses the scam of so-called “affordable” housing crumbs as a fig leaf for even more towers for the wealthy, with the inlet as their backyard instead of preserving this piece of land for future generations.
The current occupant of this lot is an MTA garage. This project has zero impact on the construction of Bushwick Inlet Park. In fact, it adds more green space that would otherwise be the garage. I think the community can afford replacing a dirty garage with 400+ permanently affordable units and new public space, allowing them to enjoy that pristine waterfront property and grant access to future generations, where there is now none.
Beautiful proposal that replaces an ugly parking lot with public access to the waterfront, all at zero expense to taxpayers. This proposal also makes great strides in addressing the affordable housing needs of NYers. Big Win, Win, Win!
when will this construction start