Wednesday, June 19, 2013

CM James Secures Additional Affordable Housing for BAM South; BPL Pacific Branch Spared from Sale, Demolition

JUNE 18, 2013

Contact: Aja Worthy-Davis (212) 788-7081

Council Member Letitia James Secures Additional Affordable Housing for BAM South Project
BPL Pacific Branch Spared from Sale, Demolition

(New York, NY)— On June 17, 2013, Council Member Letitia James voted to approve the development of BAM South, the planned 32-story tower next to the Brooklyn Academy of Music (BAM) being developed by Two Trees Management Company. The project was approved by a New York City Council.

In addition to the BAM South site, the City holds two additional sites in the Cultural District. The three development sites are expected to include approximately 900 apartments. Upon completion, 30% of two residential buildings will consist of affordable housing— an increase from the traditional 80/20 housing structure. BAM South, which represents a $135 million investment, will consist of a 32-story building containing approximately 300 residential units.

When completed, BAM South will also include a new public library, an extension of BAM’s cinema, and multiple performance spaces for cultural organizations. Additionally, the project will create a 16,000 square-foot publicly accessible plaza along Lafayette Avenue, and 22,800 square feet of ground floor retail and commercial space.

In a separate agreement with the administration, the Brooklyn Public Library’s Pacific Street branch was spared from sale to a private developer. The administration has committed to working with elected officials and community stakeholders to formulate a plan for service through an open process. A potential future change regarding the status of the library would require City Council approval. Additionally, Two Trees committed to including union workers in their construction bidding process

“I am pleased to again offer my support to BAM South, a project which will offer significant affordable housing to the Fort Greene community," said Council Member Letitia James. "I have always supported Two Trees’ vision for the project, and I believe it was important to ensure the project included significant community benefits such as increased affordable housing, maintaining the Pacific Street library, a commitment that cultural organizations utilizing the space will reflect the diversity of this community, and assurance that future utilization of the open space includes the input of all stakeholders.”


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