Author Topic: Vestcor planning infill project in Brooklyn  (Read 2590 times)

thelakelander

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Vestcor planning infill project in Brooklyn
« on: August 16, 2018, 01:57:05 PM »
This would be Vestcor's 4th infill affordable/workforce housing project in the area. This one is significant because it's on the west side of Park Street.



Full article: https://www.jaxdailyrecord.com/article/the-cawton-report-vestcor-planning-project-in-brooklyn
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Tacachale

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Re: Vestcor planning infill project in Brooklyn
« Reply #1 on: August 16, 2018, 02:13:56 PM »
Great news! Looks like it's mostly empty lots now?
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Dolph1975

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Re: Vestcor planning infill project in Brooklyn
« Reply #2 on: August 16, 2018, 03:24:21 PM »
This would be Vestcor's 4th infill affordable/workforce housing project in the area. This one is significant because it's on the west side of Park Street.



Full article: https://www.jaxdailyrecord.com/article/the-cawton-report-vestcor-planning-project-in-brooklyn

The article mentioned the Vista Brooklyn tower...  is that still happening?  The article said it was projected to break ground in 2019 but haven't heard much more about lately.

KenFSU

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Re: Vestcor planning infill project in Brooklyn
« Reply #3 on: August 16, 2018, 03:43:27 PM »
^Per Aundra Wallace, they're still working on capital.

Still sounds like it's more a matter of when than if.

vicupstate

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Re: Vestcor planning infill project in Brooklyn
« Reply #4 on: August 17, 2018, 09:50:00 AM »
I didn't see anything about Vista Brooklyn tower in the article. What is that?
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thelakelander

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Re: Vestcor planning infill project in Brooklyn
« Reply #5 on: August 17, 2018, 09:57:11 AM »
There's a blurb about midway through the article:

Quote
If the authority chooses Vestcor’s project, it will be up to the state to approve.

The project is the latest residential complex introduced in Brooklyn and the first since Bristol Development Group and NAI Hallmark announced their 10-story Vista Brooklyn residential tower in 2017.

Vista is expected to break ground by 2019.
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Kerry

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Re: Vestcor planning infill project in Brooklyn
« Reply #6 on: August 19, 2018, 04:48:37 PM »
I'm still don't like the idea of income segregated housing.  The City needs to work with market-rate developers to set aside a percentage of their units for workforce housing.  Or tell Vestcore that 25% of their housing can't have income restrictions.
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Tacachale

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Re: Vestcor planning infill project in Brooklyn
« Reply #7 on: August 19, 2018, 05:01:51 PM »
I'm still don't like the idea of income segregated housing.  The City needs to work with market-rate developers to set aside a percentage of their units for workforce housing.  Or tell Vestcore that 25% of their housing can't have income restrictions.

That’s more or less what this one is, I believe.
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thelakelander

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Re: Vestcor planning infill project in Brooklyn
« Reply #8 on: August 19, 2018, 05:20:19 PM »
Aren't 220 Riverside and Brooklyn Riverside income restricted? Either you make enough to afford them or you won't be approved to live in them. Also, the Vestcor projects are being made feasible through a federal program that incentives the construction of affordable housing. The city has no real say over changing the parameters of that program's requirements.
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thelakelander

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Re: Vestcor planning infill project in Brooklyn
« Reply #9 on: August 19, 2018, 05:31:58 PM »
From the article:

Quote
Moore said about half the estimated 136 units will be affordable for those earning at or below $29,400 annually, or 60 percent of the average median income.

Other units would be reserved for individuals making 80 to 140 percent of the average, capped at $69,600.
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jaxnyc79

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Re: Vestcor planning infill project in Brooklyn
« Reply #10 on: August 19, 2018, 05:36:51 PM »
For Lofts at Jefferson Station, I remember reading that the City Council had approved 3.4 million in local incentives, on top of federal financing arrangements Vestcor had secured for the development.  If the city is resource constrained, I do question whether local incentives on top of federal incentives already secured, is really necessary.

The majority of LaVilla units built by Vestcor so far have been classified as affordable housing, with Lofts at Jefferson Station having a segment of units classified as "workforce."  I believe this latest Brooklyn proposal will include a somewhat higher proportion of workforce housing.

Having said all of that, as long as the properties remain well-maintained, I tend to think having bodies downtown is a good thing, but I prefer the housing be "affordable-workforce," and the bodies be people who work. 

thelakelander

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Re: Vestcor planning infill project in Brooklyn
« Reply #11 on: August 19, 2018, 06:05:23 PM »
I figure someone has to work in all these bars, retail stores, markets, restaurants, hotels, etc. that everyone wants to see open in downtown. Those workers won't be able to afford luxury apartment rental rates and condo prices. Overall, given the struggle in some cities in regards to out-of-control housing prices, I think accommodating Vestcor's affordable housing projects into the downtown development mix is one of the better things the DIA has done recently.
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heights unknown

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Re: Vestcor planning infill project in Brooklyn
« Reply #12 on: August 19, 2018, 06:37:56 PM »
This would be Vestcor's 4th infill affordable/workforce housing project in the area. This one is significant because it's on the west side of Park Street.



Full article: https://www.jaxdailyrecord.com/article/the-cawton-report-vestcor-planning-project-in-brooklyn

The article mentioned the Vista Brooklyn tower...  is that still happening?  The article said it was projected to break ground in 2019 but haven't heard much more about lately.
Yeah it's been two years since the announcement of the Brooklyn Tower; is it still on tap? On the drawing board? Planned/Proposed?
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heights unknown

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Re: Vestcor planning infill project in Brooklyn
« Reply #13 on: August 19, 2018, 07:53:51 PM »
I'm still don't like the idea of income segregated housing.  The City needs to work with market-rate developers to set aside a percentage of their units for workforce housing.  Or tell Vestcore that 25% of their housing can't have income restrictions.
KUDO's Kerry; I agree. There's people, like me, that are retired and want to move back to Jax, that make over those restrictive income amounts that would like to rent or even own in the areas close to downtown and can't because of THAT red tape. They need to take your recommendations with a boulder of salt.
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thelakelander

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Re: Vestcor planning infill project in Brooklyn
« Reply #14 on: August 19, 2018, 09:31:38 PM »
Vestcor's four small projects don't make up the majority of the housing units under construction in downtown. Khan, Rummell and other developers will provide people with ample opportunity to pay to stay in the urban core.
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