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Domino's site deal struck by City Council: 55-story towers will be built
The City Council agreed to a deall for tall towers at the former Domino Sugar refinery site on the Brooklyn waterfront in exchange for relaxed requirements for affordable housing.
The deal allows developer Two Trees Management to build as high as 55 stories, about 15 stories higher than other structures on the waterfront, The Wall Street Journal reported.
As part of the deal, the apartments would be made available to families of four making 70 percent of the area media income, which is about $60,000, the Journal said.
The Domino site has long been at the center of tough negotiations over affordable housing between the city and developers. Two Trees Management has proposed building 2,300 apartments on the site, as well as office and retail space.
About 700 apartments are to be set aside for affordable housing.
The Councils Land Use Committee voted to approve the project on Thursday. The plan will go to a full Council vote on Tuesday.