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Parts Of Brooklyn Rezoned For Residential Use

More news on the waterfront:

Parts Of Brooklyn Rezoned For Residential Use

New housing is in the works for a section of Brooklyn waterfront. The mayor says it'll give lower-income families the chance at a good home, but some say the plan doesn't go far enough.

It doesn't look like much now, but a former industrial site in Greenpoint-Williamsburg, Brooklyn, will soon be the location of mixed-income housing, now that the city's expanded rezoning program has turned it into a residential area.

Developers are building three apartment towers that will sell at current market prices. But a fourth building - Palmers Dock - will contain affordable rentals.

"A family of four with an income of no more than $56,720 a year will be able to live in Palmer's Dock and will not have to pay more than a third of their income for rent," said Mayor Michael Bloomberg. The mayor and other city and state leaders broke ground on the project Monday. In the first phase, almost 300 residential units will be built, and a third will be affordable.

...wouldn't it be better if the major setup a city owned company to create more afforadble housing which would generate direct income for the city instead of giving away the land?


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