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Land Use, Housing & Zoning
225 West 28th Street, Inclusionary Housing application to set-aside 35 apartments for households earning no more than 80% AMI (average median income) in a newly constructed 20-story residential building that will contain a total of 112 apartments
WHEREAS, The applicant (known as 225 West 28th Property Owner LLC) proposes to build a 20-story building, that will include units of the affordable housing under the Inclusionary Housing Program (IHP) of HPD, benefiting from the 421-a tax exemption program; and
WHEREAS, Community Board Five prefers when low-income units created through the IHP are mixed in a building with market-rate units, as is the case here, to further objectives of economic integration; and
WHEREAS, The proposed building is 20% larger than would otherwise be permitted and the applicant is additionally generating thousands of square feet of additional bonus through the off-site program to be used for other developments; and
WHEREAS, Community Board Five believes that all R10 and R10 equivalent districts in Manhattan Community District Five should become Inclusionary Housing Designated areas so as to achieve a greater public benefit for added density (1 square foot of affordable generating 1.25 square feet of floor area rather than 1 square foot of affordable generating 3.5 square feet of floor area); and
WHEREAS, The proposed building is additionally receiving a significant tax benefit through 421-a program under which they do not have to pay any property taxes on the improved value of property for 12 years followed by an 8-year partial exemption; and
WHEREAS, The proposed building will have 112 residential units total, of which 35 will be affordable for low-income households; and
WHEREAS, The rents on the 35 apartments in inclusionary program will increase to 80% of AMI and will include 4 studios, 24 one-bedrooms, 5 two-bedrooms and 2 three-bedrooms; and
WHEREAS, The level of finishes in the low-income units will be comparable to the market-rate units; and
WHEREAS, The rooftop will be available free of charge to all residents; and
WHEREAS, The applicant has suggested that there will be a fee for the use of below-grade amenities (e.g. pool, health center, etc.); and
WHEREAS, Concerns were expressed that low-income tenants may be unable and unlikely to pay that high a fee and therefore would not be fully integrated residents in the publicly subsidized building; therefore be it
RESOLVED, Community Board Five recommends denial of the IHP application at 225 West 28th Street who proposes to build a 20-story building, that will include units of the affordable housing under the Inclusionary Housing Program (IHP) of HPD, benefiting from the 421-a tax exemption program unless the applicant agrees to:
- Offer a reduced monthly or annual rate to low-income residents for premium amenities in the building
- Communicate to CB5 a complete list of premium amenities once a list has become available to determine an appropriate reduction for low-income residents