Back in December 2012, the Brooklyn Bridge Park issued a request for proposals to develop the 1 John Street building, the section of John Street between Adams and Pearl Street of the park for residential development. Con Edison sold the 3.4 acres between John Street and the East River that it has owend for half a century in January 2013. Con Edison says its total investment in the property over the years is about $600,000, but the Brooklyn Bridge Park Development Corporation has agreed to pay $9.2 million for it. Revenue from a 96-year lease on the land under the building would help pay for the purchase.
Curbed reported that there are 11 condo designs that were presented with “the stated goals of the project to “enliven the northern entrance of the park,” build “high-quality, visually appealing residential development,” and “seamlessly integrate the park and the surrounding community.” The site allows for a maximum height of 130 feet, up to 130 residential units (101,000 sq ft of residential space), ground floor retail, and up to 110 parking spaces. The winning respondents will be selected this summer. (Side note: One of the bidders plans to use crowdfunding to get the community involved in investing up to $1 million in the retail component of the development.)
Which one should the park choose?
For full RFP presentation, go to Project Approvals and Presentations, BrooklynBridgePark.org