205 Water Street Plans Revealed at Community Board
Toll Brothers revealed its plans for a new residential development at 205 Water Street in the Dumbo Historic District to the members of Community Board 2’s landmarks committee and ended up getting a very warm reception. According to the Brooklyn Paper, the committee found the design to be contextual and gave props to the developer…
Toll Brothers revealed its plans for a new residential development at 205 Water Street in the Dumbo Historic District to the members of Community Board 2’s landmarks committee and ended up getting a very warm reception. According to the Brooklyn Paper, the committee found the design to be contextual and gave props to the developer for keeping the height of the project much lower than zoning regulations would allow: Instead of the maximum 12 stories, Toll’s plan calls for most of the building to be seven stories, which one section rising to nine. We loved the gritty nature of this industrial area, and that was our inspiration, said Navid Maqami of GreenbergFarrow, the project’s architects, of the design submitted last night. The rust colors, steel and concrete — these are what you find in DUMBO. The design includes 67 market-rate apartments and 86 below-ground parking spaces. LPC itself will consider the project at its April 6 meeting. (Click on the image above to expand.)
CB2: This project takes no ‘Toll’ on DUMBO [Brooklyn Paper]
Toll Running 205 Water Plans Up the Flagpole [Brownstoner]
Deconstructing the 205 Water Street Deal [Brownstoner] GMAP
Toll Brothers Planning Large Dumbo Project [Brownstoner]
DUMBO Rezoning Passed (Without Much Fanfare) [Brownstoner]
Praying for the Variance Gods at 205 Water Street [Brownstoner]
I don’t really care that much if the buyers in this particular building have to pay more. I do care a lot about overbuilt parking leading to more and more cars and more and more traffic.
your post suggests you think the developers are powerful enough to set pricing. this would be a dubious position even in the bubble, now it’s laughable. developers will get as much as the market will stand. the next step is price cuts. the market will determine the pricing.
the amount of parking reflects a business decision within certain parameters (zoning, lpc, etc) by the developer that may add or detract from the investor’s overall return.
even if you were correct and we could toss all the economists overboard…why would you care if the stupid buyers have to pay more? they’re just rich and stupid. it’s not like were talking affordable housing here.
Building structured parking costs $25k-$50k per space. With this much parking available, the price for each one to the residents will be low. Similar buildings with overbuilt parking have not been able to lease the parking at prices that provide a return on investment. That means the whole project costs more to build and will cost more for the eventual tenants/condo owners to rent/buy.
If the developer is legally allowed to make the spaces public — depends on whether they’re classified as “accessory” parking or not. We don’t know that.
pls explain why the parking spots offered will drive up the housing prices. makes ZERO sense economically. in fact, offering parking more parking is neighbor friendly as non-bldg locals will likely rent/buy the extra spaces.
If you exclude the part of Brooklyn beyond the subway, it’s probably more like 35% for subway-served Brooklyn.
And this developer wants to provide parking for 128% of units. No one else sees a problem with encouraging driving to that extent?
new york doesn’t have a lot of cars? news to me
the parking is probably not only for building residents. there are a lot of people living in that area and not a lot of places to park — so i’m betting some of the spaces can be bought and sold by non-building residents, right?
signed,
a proud car owner in brooklyn
fyi
2000 census – households % private car ownership by borough
Manhattan – 22%
Bronx – 40%
Brooklyn – 46%
Queens – 66%
Staten Island – 80%
NYC (combined) – 46%
In general I agree with zinka that we shouldn’t be encouraging car ownership. However, the balance of demand and supply is so off-kilter in dumbo already (way more demand than can be met on the street) that I’m ok with adding an 86 car garage here.
“If cars are anti-urban, what city can you name that doesn’t have lotsa cars?”
New York. The large majority of residents don’t have cars. But the more off-street parking we add to New York, the more cars we get in New York, and the more our streets become unpleasant places to be, for everyone: drivers, pedestrians, cyclists.
Also, tons and tons of cities in Europe and Asia.