Navigating the complex NYC land use process to achieve a new residential development with tailored affordable housing
A leading real estate company in the United States, El Ad US Holdings, chose Geto & de Milly to guide the extremely technical and complex land use process for its property, located over an Amtrak tunnel in Manhattan’s Special Clinton District. Fully maximizing development of this tricky site required a host of governmental actions and waivers. With our extensive experience and strong network of relationships in the Clinton neighborhood as well as with the relevant City agencies, we engaged in a series of productive meetings with local elected officials and the highly knowledgeable Community Board 4 Land Use Committee, resulting in overwhelming support and approval through each step of the ULURP process.
Geto & de Milly led thoughtful discussions with all stakeholders and elected officials, achieving a “win-win” outcome. The resulting contextual development will include a combination of the desired number of market rate apartments, on-site affordable home-ownership opportunities, and off-site affordable rental housing under the city’s Inclusionary Housing program.
Given the current NYC mayoral administration’s focus on incorporating affordable housing in new developments, El Ad is now moving forward well-positioned as a real estate innovator.