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    NYC Mayor Eric Adams Labels NYC A “City of Yes” for New Development

    Mayor Adams’ statement comes a day after a Harlem development project was tabled by the developers, rather than waiting to see it get turned down in council. Adams is proposing more ambitious zoning rules for the city that will allow for more jobs and housing. More creative housing projects will come to the city in the next few years as a result.

    The first phase of Edgemere Commons, a $100M mixed-use, affordable housing complex has commenced in Queens. The project is bringing jobs, retail and business to a part of NYC that needs it. Local developers, The Arker Companies and Slate Property Group are behind the project’s first tower.

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    Developers, Mega Development and The Bridge have broken ground on a $118M affordable housing project in Brooklyn’s Brownsville neighborhood. The project, dubbed Bridge Rockaway, will contain 174 units and 39,000 of ground floor space for manufacturing. The project is a big part of revitalization efforts for the area.

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    Local developer, Baruch Singer, has received a $92M loan to finish a project which will be one of the largest office buildings in Brooklyn. More than 30% of the space is pre-leased the project will be a major destination for office space and retail. The project sits at the northwest corner of Coney Island Avenue.

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    New York City developer, Red Apple Group, filed plans for a 76k square foot, 10-story project in Chelsea. The project will contain 64 residential units and is a redevelopment of an existing 1-story retail building owned by the group. John Catsimadtidis of Red Apple Group is looking to redevelop other properties in their portfolio as well. 

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    Tag(s): New York Digest

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