PODCAST: Developer Bruce Teitelbaum On Why He Is NYC Development's 'Sacrificial Lamb'
On this episode of Bisnow Reports, we speak with Bruce Teitelbaum, a developer who is proposing a two-tower mixed-income housing development at 145th Street and Lenox Avenue.
His proposals have been staunchly opposed by local City Council Member Kristin Richardson Jordan. Teitelbaum withdrew the zoning application for the project in May and is now operating a truck depot on the site, which has drawn ire from local politicians, as well as the threat of a lawsuit from the New York attorney general.
The proposed development, which Teitelbaum now calls One45 Harlem for All, would bring more than 900 units to the area, with a little more than half set aside as affordable housing. Richardson Jordan has called for 100% deeply affordable units.
Teitelbaum has begun the zoning process once more, and on the show, he talks about his decision to open a truck depot, his hopes for getting a resolution and why he thinks his proposal has played a part in reshaping the conversation on housing approvals in New York.
“A lot of folks have called me and said, ‘You, unfortunately, were the sacrificial lamb. You went through this first, but it opened a lot of people’s eyes about what is happening in the city,'” he said. “These are all things people are thinking about now that I think perhaps a year ago they may not have been.”
Bisnow's audio series, Bisnow Reports, examines every facet of the international commercial real estate industry — from the murky future of retail and office to real estate’s reckoning with diversity to the effects of climate change on the built world, and so much more. You can subscribe on iTunes, Spotify and Amazon Music, or scroll down to listen in your browser.
