new york (12382) ny (7046) nyc (3991) new york city (3032) brooklyn (2451) waterfront (1345) williamsburg (366) rezoning (14) east river (7) north brooklyn (4)
Dear Neighbors,
The developers of River Ring are asking the community to agree to a massive rezoning so that they can build 60 & 65 story towers on 87–105 River St. (North 3rd to South 1st St), the last two low density lots on the Williamsburg Waterfront.
The rezoning request would allow residential development more than 3.5x the density and ~6x taller, essentially doubling the value of their site . Their request includes a 35 year tax abatement, worth hundreds of millions of dollars in exchange for the ~2.9 acres of walk-able park space and 25% affordable housing.