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Landmarks approves largest Soho new dev since rezoning
['Rich Bockmann']
New York - The Real Deal
The Landmarks Preservation Commission on Tuesday approved United American Land’s application for 277 Canal Street — a 159-unit project at the corner of Broadway.
SIGN UPThe project will include 31 affordable units.
The rezoning was contentious: Backers argued that wealthy neighborhoods like Soho and Noho weren’t doing enough to add affordable housing, and that the addition of new supply (including market-rate units) would help ease costs.
Critics argued that the plan may not produce as many affordable housing units as it proposed, and that new developments could displace existing rent-regulated apartments.
The neighborhood plan is expected to produce 3,200 to 3,500 new housing units, including 900 permanently affordable ones.