- REAL ESTATE EDUCATION
- GIVING BACK
Testimony of the Real Estate Board of New York Before the Subcommittee on Zoning and Franchises in Support of ULURP Applications C 180218 ZSK, C 180216 ZMK and N 180217 ZRK – 80 Flatbush Avenue Rezoning
August 14, 2018
The Real Estate Board of New York, Inc. (REBNY) is a broadly-based trade association representing owners, developers, brokers, managers and real estate professionals active throughout New York City. We support the rezoning of property located at 80 Flatbush Avenue by Alloy and the NYC Education Construction Fund (ECF).
The proposed zoning actions will facilitate a mixed-use development which will provide the community with a new elementary school, a high school, permanently affordable housing units, retail space and 200,000 SF of Class A office space. This proposal advances the City Council’s stated goals for equity in the city.
The proposal is a laudable model, representing rational, comprehensive land use planning at its best. By siting these high priority needs together and adjacent to mass transit, the public-private partnership ensures that density is built where infrastructure best supports it. Its location on Flatbush Avenue and proximity to Atlantic Terminal, one of Brooklyn’s best served transit nodes with 13 lines, can handle this level of density and ensure the schools, housing and retail are highly accessible.
The city’s need for inclusive, affordable housing is critical. The development at 80 Flatbush Avenue will offer 200 permanently affordable housing units at an average household income of 60% AMI. New affordable and market rate housing is crucial for the borough’s continued growth. Also of importance is the development of affordable units in an high income neighborhood, furthering the aims of the inclusionary housing policy for low and high income neighborhoods this body adopted in 2015.
A new 350 seat public elementary school will help increase school seat capacity in District 15. In addition, the Khalil Gibran International Academy (KGIA), NYC’s first dual-language Arabic high school, will finally have an appropriate facility. The proposed development will also bring a new cultural facility to the area which will help strengthen and expand the Brooklyn Cultural District as a destination for the arts.
Alloy’s 80 Flatbush Avenue development will benefit the surrounding neighborhood and the City. REBNY supports Alloy’s development plans for 80 Flatbush Avenue, and we respectfully request that the City Council approve the proposed rezoning.
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