The Real Estate Board of New York to The New York City Planning Commission Regarding 47 Hall Street Rezoning (Application Nos. C 250050 ZMK, N 250051 ZRK)

Download the Testimony

The Real Estate Board of New York (REBNY) is the City’s leading real estate trade association representing commercial, residential, and institutional property owners, builders, managers, investors, brokers, salespeople, and other organizations and individuals active in New York City real estate. Thank you to the City Planning Commission (CPC) for the opportunity to provide testimony on the 47 Hall Street Rezoning (Block 1876, Lot 1) located in the Wallabout neighborhood in the Borough of Brooklyn.

New York City is facing a housing crisis of historic proportions and rezonings provide an important catalyst for producing new supply. REBNY strongly supports the private rezoning and related text amendment at 47 Hall which will facilitate an active mixed-use campus comprised of approximately 611 dwelling units which include permanently affordable housing under the city’s Mandatory Inclusionary Housing (MIH) program.

The program and site planning will ensure this proposal is compatible both with the history of the site and the surrounding neighborhood’s mixed manufacturing and residential character. In addition to the residential uses, the project will also include ground floor retail to activate the street frontages, office/maker studio spaces building on the borough’s creativity and innovation identity, and a self-storage facility that is compatible with the neighborhood’s surrounding uses. Approximately 60 parking spaces will also be provided.

The actions will also facilitate the preservation and adaptive reuse of eight buildings within the existing campus. This proposal will ensure that these historic buildings within the State Wallabout Industrial Historic District are in a state of good repair and continue to contribute to the industrial architectural heritage of the broader study area.

The proposed actions and resulting project strongly align with public policy goals to develop more housing, including permanently affordable homes, and will create tax revenue and jobs for the city’s economy. These actions will implement one of the new districts created for Economic Opportunity, furthering city goals for vibrant retail corridors. Lastly, the proposed zoning district changes will bring into compliance existing buildings while creating a zoning framework for new construction that will be compatible with the surrounding built context. REBNY asks that the commissioners adopt the zoning map and text amendments changes to facilitate this project. Thank you for the Commission’s consideration of these points.