Yes, dreams do come true in Brooklyn, and so does affordable housing. The proof is in the pudding, located just outside the A/C/G Hoyt Schermerhorn stop. Out of a total of 375 total units, the 25 story project will contain 74 “affordable” units. The remainder are expected to be residential condos. As an interesting twist, the regulatory agreement filed in ACRIS states the owner receives a LIHTC (Low Income Housing Tax Credit) and a 421-a tax benefit. The same units can be applied to both tax programs to meet eligibitily requirements. This practice has been criticized as double dipping taxpayer dollars.
I had the opportunity to spend an extra $2.75 transferring from the D to the J train this afternoon, and in the process got an idea for what’s happening on Delancey Street and Bowery. The Lower East Side is undergoing an extraordinary amount of construction, headlined by the controversial One Manhattan Square, and of course, Essex Crossing.
We came across another residential project where the original, more historic, facade is undergoing integration into a new structure. This project, located at 24-16 Queens Plaza South in Long Island City, seems to have gone under several iterations before settling on a plan of integration. For example, original DOB records indicated the full demolition of the original five story “Department of Commerce” structure. However, the most recent plans that were approved by DOB clearly show the new structure and 1925 structure co-existing.
PTAC, or Packaged Terminal Air Conditioners, have become a scourge among those with an eye for architecture. As New York continues to build unabated, our skyline, and PTACs, have experienced uninhibited growth.
PTACs are an inexpensive way to heat and cool a room, or multiple rooms as the case may be. They avoid the cost of central air and heat, which can be extraordinary. Just think of all the duct work, lost interior space, massive heating and cooling units, and maintenance required to heat and cool a large highrise. PTACs slice those costs into smithereens. PTACs cost less than $1,000 per unit, and more often in the range of $300-$600 per unit. Also, if one unit breaks, the loss doesn’t take the entire building offline. Further, such units are often found in affordable buildings, but they have crept their way into luxury buildings as well.