NEW YORK CITY-Durst Fetner‘s proposed apartment building on West 57th St. is being held up in the approval process over how many affordable units the 750-unit project will have.
Earlier this week, the City Council’s zoning and franchise subcommittee had scheduled a vote on the project at 625 W. 57th St. but wound up postponing the vote until the issue of the number of affordable units at the 32-story building was addressed.
The current plan calls for 150 units to be reserved for low and moderate-income tenants for 35 years as part of the city’s 80/20 program, Crain’s New York Business reports.
City Councilwoman Gale Brewer and the local community board have called for permanent affordability on the project. Durst Fetner says that because the firm does not own the land, but has a land lease for 99 years on the property, it cannot agree to offer the affordable units on a permanent basis. See story in Crain’s New York Business.