"Empire State Development's first phase for the Pacific Park project includes 2,000 apartments, with 500 designated as affordable, aiming to expedite housing availability."
"The strategy focuses on 'solid ground' sites to accelerate construction, while more complex platform parcels will be addressed in later phases."
"Currently, 3,212 units have been completed, but a new development team has proposed a plan that could increase the total to 9,000 units."
"A 2014 settlement requires the completion of 2,250 below-market units by May 31, 2025, raising questions about the timeline for affordable housing delivery."
Empire State Development is initiating the Pacific Park project with plans for 2,000 new apartments, including 500 income-restricted units. This first phase focuses on Site 5 and Site B6, avoiding the complex railyard decking work that has delayed progress. Currently, 3,212 units have been built, with a potential increase to 9,000 units proposed by a new development team. A 2014 settlement mandates 2,250 below-market units by May 31, 2025, raising concerns about the delivery timeline for affordable housing.
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