[Barney Greengrass]

Speaking of rezoning: NIMBY's II Electric Boogaloo!

Developers might drop affordable housing plan after Inwood ruling

Maddd Equities, Joy Construction planned 611 units before judge nixed rezoning

A massive affordable housing project planned for Inwood could turn into an industrial development after Thursday’s shocking ruling overturning the neighborhood’s rezoning.

Jorge Madruga’s Maddd Equities and Eli Weiss’ Joy Construction were poised to take advantage of the rezoning with a development at 3875 Ninth Avenue by West 207th Street. The frequent real estate partners had pre-filed plans with the Department of Buildings in August for a 30-story, 544,000-square-foot project with 611 residential units and about 62,000 square feet of commercial space.

The developers wanted to make every unit in their project affordable for low- or middle-income families and still hope to do so, but the New York Supreme Court decision “potentially changes that,” Weiss said. He and Madruga may now consider an industrial or manufacturing project instead for the site.

https://therealdeal.com/2019/12/20/d...inwood-ruling/

Judge nixes Inwood rezoning

The city will likely appeal the decision

UPDATED, Dec. 19, 2019, 7:24 p.m.: The Inwood rezoning has just been annulled with the stroke of a pen.

In a New York Supreme Court decision issued today, Justice Verna Saunders granted a petition to nullify the rezoning. Such a reversal is highly unusual.

The neighborhood’s rezoning faced fierce opposition, and last December, Inwood Legal Action filed a petition alleging that the review process was incomplete and did not examine potential socioeconomic impacts. The review process was challenged under Article 78, which allows for challenges to government actions.

“The decision from the judge completely annuls the rezoning and remands it back to the Economic Development Corporation and the deputy mayor,” a New York State Senate source said. “There were eight counts in the petition and they were all upheld.”

https://therealdeal.com/2019/12/19/j...wood-rezoning/