Avery Hall Investments' New 120 Fifth Ave Proposal Has Larger Food Store And More Affordable Apartments
After eight months of negotiations between Avery Hall Investments and neighborhood advocates, a new plan for the 120 Fifth Ave mixed-use development in Park Slope has been unveiled.
Under the plan, locals will get more low-income apartments and a say over its now-larger grocery store, DNAInfo reports.
The original plan—which called for a 7,500 SF grocery store with a 15-year lease—met intense criticism when proposed back in February.
The grocery story would now be 22k SF (the second-largest in the neighborhood), have a 20-year lease and be “community oriented.” This not only means it will have a range of prices and “ethnic products,” but it also can’t be a high-end chain like Whole Foods, Balducci's, Eataly or Citarella.
The plan’s number of housing units has also been changed. Originally calling for 41 affordable units (eight for moderate-income families and 32 for low-income families), the development will now have 16 very low-income, 16 low-income and eight moderate-income apartments.
Avery Hall’s plan still features two buildings, a public plaza, 165 apartments and ground-floor retail. [DNAInfo]
