City Planning approves controversial trio of resi towers in Two Bridges
In a 10-to-3 vote, the City Planning Commission voted in favor of a controversial application, filed jointly by four developers, to build three residential towers in Two Bridges that together will add 3,000 housing units to the neighborhood. They include JDS Development’s 1,000-unit rental tower at 247 Cherry Street; L+M Development and CIM Group’s 798-foot tower at 260 South Street; and Starrett Corporation’s 730-foot building at 259 Clinton Street.
Combined, the projects represent $4.5 billion worth of investment in the neighborhood, and would add nearly 700 affordable units.
The projects are being developed as-of-right, meaning they didn’t require special approvals to go forward. But after a failed attempt to force them through the city’s labyrinthine land-use review process, the trio went through an environmental study to determine what could be done to mitigate negative effects on the community.