Broadway Triangle Rezoning Plan: A New Chapter for Affordability and Growth in New York City

Strategic Insights -

The redevelopment of the Broadway Triangle Urban Renewal Area in Brooklyn was reimagined by the New York City government through a re-zoning plan aimed at transforming a largely vacant and underutilized area into a thriving new neighborhood. The plan, which passed the City Council, will bring over 1,800 new housing units, including 44% income-targeted affordable housing, along with 100,000 square feet of new retail space, 35,000 square feet of community facility space, and an expanded Bartlett Street Playground.

Key Takeaways:

  • The Broadway Triangle rezoning plan aims to promote new industrial and residential development in a previously underutilized area.
  • The re-zoning will bring over 1,800 new housing units, including 44% income-targeted affordable housing.
  • The plan will also generate over 100,000 square feet of new retail space, 35,000 square feet of community facility space, and an expanded Bartlett Street Playground.
  • The redevelopment will create much-needed jobs and support local economic growth.
  • The plan demonstrates the city's commitment to not waiting for a national economic recovery, but instead taking proactive steps to spurn investment and growth.

Statistics:

  • 1,800: The number of new housing units that will be developed as part of the Broadway Triangle rezoning plan.
  • 44%: The proportion of new housing units that will be income-targeted affordable housing.
  • 100,000: The square footage of new retail space that will be created.
  • 35,000: The square footage of new community facility space that will be created.
  • 800: The number of affordable apartments that will be brought to Williamsburg as a result of the re-zoning.
  • 29: The number of private sector entities that expressed interest in developing the Willets Point site.

Sources:

  • "Statement of Mayor Michael R. Bloomberg: Broadway Triangle Urban Renewal Area" (The Office of the Mayor of New York)
  • "Statement of Council Member David Yassky: Council Vote Brings Affordable Apartments to Williamsburg" (The New York City Council)
  • "Statement of Assembly Member Vito Lopez: Broadway Triangle Rezoning Approved" (The New York State Assembly)
  • "Statement of Borough President Marty Markowitz: Supporting the Broadway Triangle Plan" (The Brooklyn Borough President's Office)
  • "Statement of State Senator Martin Malave Dilan: Rezoning the Broadway Triangle" (The New York State Senate)
  • "Statement of Housing Preservation and Development Commissioner Rafael E. Cestero: Broadway Triangle Rezoning Plan" (The New York City Department of Housing Preservation and Development)