October 26, 2021

MTA Unveils Plans For Waterfront Development In Greenpoint

MTA Unveils Plans For Waterfront Development In Greenpoint

The MTA is lifting the veil on plans to redevelop its warehouse at 40 Quay Street in Greenpoint, Brooklyn into a mixed-use high-rise complex. Plans call for 900 apartments, commercial space, and a permanent home for the Greenpoint Monitor Museum.

The project, named Monitor Point, would be built by the Gotham Organization, which controls the site under a 99-year ground lease approved earlier this week by the MTA Finance Committee.  The proposed development is expected to include up to 900 homes, accompanied by on-site parking, more than 100,000 square feet of retail and restaurant space, and rebuilt MTA facilities.

The proposed housing would include a 25 percent affordability component - priced for households earning up to 60 percent of the area median income - as well as designated senior units.

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