De Blasio Strikes Deal For Domino Site

Monday, March 03, 2014

The Domino Sugar Factory in Brooklyn. (Mario Tama/Getty)

After an impasse, Mayor Bill de Blasio has announced a deal with developer Two Trees Management creating 537,000 square feet of affordable housing at the old Domino Sugar site in Williamsburg, Brooklyn.

Originally, the developer had promised 110,000 less square feet of affordable space.

"We set out from day one to get the best possible value for the public. This partnership delivers on that commitment,” said Deputy Mayor for Housing and Economic Development Alicia Glen.

The mixed-use project will include over 2 million square feet of total residential space, plus a park and commercial office space. 

In a concession to Two Trees Management, about half of the new affordable space will be for moderate-income families. 

That will significantly reduce costs for the developer, while also creating permanently affordable units in a desirable waterfront location.

"We hope this can become a model for what we can all achieve together in the years ahead,” said Jed Walentas of Two Trees Management.

The project is expected to break ground by December.


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Comments [2]

tara from Bronx

I agree with the first poster. Calling something "affordable" housing is way too vague. We've already seen this in NYC. This sounds like more luxury condos w/a few units set aside for lottery based on income. Not really helpful in combating the plague of homelessness, just makes Deblasio sound good.

Mar. 04 2014 11:31 AM
David from New jersey

The word affordable is a very broad term it should be more specific.

Mar. 04 2014 09:59 AM

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