Rosenberg & Estis, P.C., currently celebrating its 50th year as one of New York City’s pre-eminent real estate law firms, announced that the firm has secured a rezoning that will permit the development of a new five-story, 35-unit apartment property at 31-17 12th St. in Astoria, Queens.
Frank E. Chaney, Counsel with R&E’s Transactional Department, represented property owner 31-17-19 IZ, LLC, in securing the rezoning.
Currently occupied by a two-story house and several one-story garages and commercial buildings, 31-17 12th St. was previously zoned R5B for low-rise development. The amendment to R6B permits medium density multifamily development and includes a Mandatory Inclusionary Housing (MIH) requirement to designate nine of the 35 units as affordable to low-income families.
Said Chaney, “We are pleased to secure this rezoning, which enables our client to either develop the site or sell it with approved plans. While the ultimate development may differ slightly, our work ensures that new zoning regulations are applied to the site and comply with affordable housing requirements.”
“Rosenberg & Estis’s expertise and strategic approach to this process was both efficient and successful. Thanks to Mr. Chaney’s hard work, we are now positioned to move forward with our plans and to realize the full potential of our property,” said ownership spokesman, Demetrios Droggitis.
The zoning amendment follows a more than two-year ULURP (Uniform Land Use Review Procedure) and other review processes that the city has been attempting to streamline as it seeks to add more affordable housing in New York.
According to Chaney, the current system is ill-equipped to meet demand and he has welcomed recent advances, including “Green Fast Track,” a streamlined environmental review process, and the “City of Yes” zoning amendments to accelerate the production of small-and medium-sized “missing middle” housing projects across New York City. Those programs are part of the administration’s “Get Stuff Built” plan to cut red tape and remove bureaucratic obstacles to achieving the city’s housing and climate goals.
Added Chaney, “As a firm deeply experienced in zoning and land use law, we understand the complexities involved in bringing projects from vision to reality within regulatory frameworks. A more than two-year process for a small, 35 apartment project highlights the outdated and overly complex nature of current procedures and we are hopeful that new initiatives being pursued by the current administration can accelerate the development of much-needed housing.”