March 27, 2017 Comments Off on AvalonBay’s 68-Story Tower Clears Community Board Views: 341 New York News, Uptown/Bronx New York

AvalonBay’s 68-Story Tower Clears Community Board

AvalonBay’s plan to build a 68-story apartment tower in East Harlem cleared another hurdle, when Manhattan Community Board 11 approved the development. But, the mega-project still needs the approval of the New York City Council.

The mixed-use complex at 321 E. 96th St. will include three schools and more than 1,100 apartments.  Of those, 30% will be priced to be affordable to residents earning a range of incomes. All that to please the community, but the community board recommended a few more changes.

The board wants 50% of the apartments to have below-market “affordable” rents. The board also questioned the height of the project, according to coverage in Politico. That’s why they call New York City a “high-barrier to entry “market.

Ultimately, the future of the project will be decided by City Council Speaker Melissa Mark-Viverito, who represents the area.

Read More at Curbed

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