Domino Sugar Refinery to be Redeveloped Into Affordable Housing
- Jun 09, 2010
New York, NY–The New York City Planning Commission approved the redevelopment of the Domino Sugar refinery site, located on the Brooklyn waterfront. The $1.5 billion redevelopment project, called The New Domino, will include 2,200 housing units, with 660, or 30 percent, at affordable levels.
The commission gave the project unanimous approval, which Susan Pollock, senior vice president of CPC Resources, believes is a positive sign that the redevelopment plan will receive final approval of the New York City Council. CPC Resources is the managing partner of the development entity, Refinery L.L.C.
The factory, a Brooklyn waterfront landmark, closed in 2004.
“We jumped at the opportunity,” Pollock says of the initiative to redevelop the site, as CPC Resources had done a lot of work in Williamsburg. “There’s a real need for affordable housing in Williamsburg.”
There will be a mix of affordable housing units “that will be spread across the site,” Pollock says. The breakdown is as follows:
- 100 units will be for seniors, for individuals who make up to $26,880 per year (50 percent of area median income)
- 100 units will be for a family of four whose income is up to $23,040 per year (30 percent of AMI)
- 310 units will be for a family of four whose income is up to $46,080 per year (60 percent of AMI)
- 150 units will be “home ownership” units, for families of four whose income is up to $99,840 a year
The remainder of the apartments will be priced at market rate. The plans also call for 143,000 square feet of community facility space, 100,000 square feet of office space, and retail.
The site will also be more accessible to the community than it has been in years, as four streets leading to the factory that have been closed for 150 years will be reopened, with ground level retail planned. Another notable feature of the development will be open space.
“There will be a one-acre green lawn that will slope toward the river,” she says, adding that, although plans have not been finalized, the New Domino may also house a public school.
Depending on economic and market conditions, the development should take about ten years to be fully built out.