Avery Hall Revises Its Two-Building Park Slope Development Proposal
After presenting its plan for a two-building development to the Park Slope community board back in February, Avery Hall Investments has been working with area stakeholders to address priorities and amend the plan.
The original plan saw 125 Fifth Ave’s existing structure—a Key Food grocery store (pictured)—razed and replaced with two buildings with 165 rentals. But Avery Hall’s affordable plan, which would rent 20% of units to families making 60% of the area median income, or $51k for a family of four, was criticized for being too expensive, Curbed reports.
Residents also feared losing an affordable grocery store. Avery Hall’s considering bringing a grocery store to the development, but it’d have a much smaller footprint. At the February meeting, the developer said 7k SF has been set aside for a potential grocery store, while the current Key Food occupies 36k SF.
The site is part of the 30-year Baltic Street Community urban renewal plan, which will expire in 2021. The plan limits the height of new buildings to 40 feet, and requires developers to build affordable housing. Avery Hall could wait for the plan to expire and not have the restrictions, but it seems to want to start development ASAP.
City Council member Brad Lander said the amended plan would be a “big win” for the community, and his office is calling for support when the new proposal is presented at the next community board meeting on Nov. 1. [Curbed]
