New life for the Paragon Paint Building development?
The NYC EDC has put out a request-for-proposal (RFP) to develop the land currently occupied by the Water’s Edge Restaurant and the adjacent parking lot along the East River, as well as a long thin lot across the street on the south side of 44th Drive. In total, it’s about 4.5 acres, with the choice river front property about 75% of that total once one includes the possibility of reclaiming, via landfill, a portion of the lot that’s currently underwater.
The city’s RFP makes it clear that they want the developer to think big and ignore the current zoning restrictions, and while paying lip service to including space for light manufacturing, heavily emphasizes the desire for affordable housing, on the magnitude of ~1,000 new apartments. Also, it begs the question: now that the city has shown their hand and a willingness to quickly change zoning in this specific neighborhood, does that mean the Paragon Paint Building should be given an exemption, as the previous complaint against doing so per Community Board 2 was that a comprehensive plan was needed?
Also, the RFP requires that Continue reading