First unveiled by Two Trees in late 2019, the project originally called for two towers, one at 650 feet and the other at 600, with 1,000 units of housing. The revised plan calls for a taller 710-foot tower on the southern side and a slightly shorter tower north tower at 560 feet. The proposed number of apartments increased to 1,050 units.
According to a newly launched website for the project, the affordable housing proposed for the project includes 263 permanently affordable rentals designated for those earning 60 percent of the area median income (AMI) and 27 units for those earning 40 percent of the AMI, which would mean $1,366/month and $854/month two-bedroom apartments for those households, respectively.
Two Trees, which created Domino Park as part of its redevelopment of the former Domino Sugar Factory, acquired the three vacant sites for a total of $150 million. The site had been home to Con Edison since 1984, with the steel fuel tanks removed from the site in 2011.
Because a zoning change is required, the so-called River Ring Waterfront Master Plan must go through ULURP, in addition to securing a permit from the Department of Environment Conservation and the U.S. Army Corps of Engineers. Two Trees previously told reporters that the land use review process could take at least two years to complete, with the construction of the entire project lasting at least five years. The park would be completed alongside the first building, Two Trees principal Jed Walentas had said.
The developers held meetings with the community at the beginning of last year, but the coronavirus pandemic put those sessions on hold. Following an environmental impact review, the developer aims to complete the ULURP by the end of 2021, as a spokesperson for Two Trees told Brooklyn Paper.
Literally a sandbox for hipsters.