NEW YORK CITY-Developer Extell, which is seeking lucrative air rights and tax breaks from the city for its 40 Riverside Blvd. project here, is receiving some criticism over its plan to provide separate entrances for market rate and affordable tenants at the development.
The Manhattan-based firm plans to build 55 low-income units at the tower building and 219 market-rate condominiums. According to the New York Post, the low income units will not face the Hudson River and will have a separate entrance, elevator and maintenance company, while the market rate tenants will be afforded Hudson River views.
New York State Assemblywoman Linda Rosenthal, a Democrat who represents the Upper West Side, says, “It's a blatant attempt to segregate people. It's just not a good thing for the city of New York to be supporting. I hate the visual of market-rate tenants going in one door and affordable tenants going in another, but that's a visceral reaction.”
Extel is applying for the city's Inclusionary Housing Program, which gives developers more floor area in exchange for building on- or off-site affordable housing. However instead of building a larger condo, Extell plans to sell the bonus floor area to another building within a half-mile of the site, the newspaper reports. Diller is looking for the city to deny Extell's tax breaks. See story in the New York Post.
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