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Transfer of Air Rights Sought to Finance Public Housing Improvements in Brooklyn

The rezoning of the neighborhood of Gowanus in Brooklyn is providing opportunities for local politicians to address local needs.
November 10, 2019, 5am PST | James Brasuell | @CasualBrasuell
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Gowanus Canal
Felix Lipov

Daniel Geiger reports on the evolution of a rezoning plan for the Gowanus neighborhood in Brooklyn, where the local councilmember, Brad lander, is proposing a transfer of air rights to help finance improvements at three local New York City Housing Authority buildings.

"Lander has asked the Dept. of City Planning, the agency drafting the rezoning plan, to include a mechanism that would allow the three complexes, Wyckoff Gardens, Gowanus Houses and Warren Street Houses, to sell air rights into the district, potentially raising tens of millions of dollars or more for the properties, which together have about 1,800 units," according to Geiger.

"Developers in the Gowanus neighborhood would be compelled to purchase air rights from the NYCHA buildings to achieve some portion of the added density granted through the neighborhood rezoning."

The Gowanus rezoning has been in the works for several years, with drafts released in 2018 and 2019. Next up for the rezoning is a seven-month public comment process, expected to begin in December or January.

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Published on Friday, November 8, 2019 in Crain's New York Business
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