Brooklyn’s Pier 6 developer says financing could fall through if state doesn’t OK plan
RAL Development, the developer behind two controversial residential towers at Pier 6 in Brooklyn Bridge Park, has warned state and city officials that the project’s financing will be lost if the state doesn’t move the delayed project ahead by April 30.
The letter by RAL President Robert Levine was first reported by POLITICO New York on Tuesday.
Brooklyn Bridge Park Corporation (BBPC) has asked Empire State Development Corp. (ESD) to approve a modification of the park’s General Project Plan to allow affordable housing, a priority of Mayor Bill de Blasio and his appointee to the BBPC board, Deputy Mayor Alicia Glen.
The park is mandated to be self-supporting, but the city had originally promised that only development absolutely financially necessary would be built. After de Blasio took office, however, 117 units of affordable housing were added to the project. (Other changes include the addition of retail, a community facility, a 75-seat pre-K space and the elimination of a road looping around the parcels.)