Well, after years and years of speculation we have an answer, a supposed half billion dollar answer. Lincoln and Continuum - two huge NYC developers - have bought up enough land to build super tall and super big. Think Ebbets Apartments scale. Right on the S train, overlooking the Garden and Park, near the Q/B and best of all near a McDonalds, Sonic, Popeyes, Wendy's, Burger King and more Storage Marts than you can shake your collection of old couches at.
Basically the deep-pocket machers cobbled together a bunch of properties before going in for the kill - the big prize being the Spice Factory itself. They're claiming it'll be 50% affordable, which would be frankly (Frankliny?) amazing. Count on some locals to be pissed that it's not affordable enough, to which the Q says if you keep coming out against everything working folks'll end up getting nothing. And at this point, anything below market is a lifesaver. I suspect the required ULURP process will get ugly, but the City will continue to have bigger priorities than the needs of the NIMBYists. I say...let it rise, and let people have a few new options - hundreds upon hundred of apartments. Let's just hope it's not TOO tall and TOO ugly, and that it takes some of the pressure off rents at Ebbets. Supply and Demand still applies, don't you know.
|Shockingly, the Developers are white guys with ties|