As we predicted, Quadriad is back.
Henry Wollman of Quadriad made a brief informational presentation to Community Board 1 tonight. Mr. Wollman professed his fondness for the board, and stated that the as-of-right project is being permitted now and will start construction “next week”. That is the five-story project that requires no rezoning and no community review.
Mr. Wollman also said that they will be filing an application “next week” for their “New Strategy” proposal. That is the 22-story project that requires a rezoning and community review. The “New Strategy” project promises 30% affordable housing in exchange for a 165% density bonus (by contrast, the as-of-right project could provide 20% affordable housing and get a 30% density bonus – but Quadriad isn’t offering that – its their bonus or no affordable housing).
Mr. Wollman also mentioned other community benefits that he regretted weren’t discussed last summer – benefits such as “community retail” and “community employment”. Presumably, these community benefits were discussed in detail in the many briefing books issued by Quadriad over the past few months.
No word on when Quadriad’s rezoning application will reach the Community Board for an actual hearing.