Garodnick: East Side Coastal Resiliency plans could leave Watersiders stranded

Councilman Dan Garodnick and Waterside Tenants Association President Janet Handal are concerned about a potential lack of vehicle access to Waterside Plaza in the event of an emergency. (Photo courtesy of Waterside Plaza)

Councilman Dan Garodnick and Waterside Tenants Association President Janet Handal are concerned about a potential lack of vehicle access to Waterside Plaza in the event of an emergency. (Photo courtesy of Waterside Plaza)

By Maria Rocha-Buschel

Councilmember Dan Garodnick said he’s concerned that plans for the East Side Coastal Resiliency Project, which is aimed at protecting the East Side in the event of a disaster, will block vehicle access to Waterside Plaza.

He mentioned this in testimony he gave on the draft scope of work for the environmental impact statement that will be done for the ESCR Project, on Monday.

Each alternative design for the ESCR has a set of barriers that would block the northbound FDR Drive service road at 23rd Street when deployed in the event of a flood. Garodnick pointed out that the barriers would then be blocking the only point of vehicle access to Waterside Plaza, which would block access for emergency vehicles, buses and trucks to the complex.

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Riverton sale will keep most apts. affordable

Riverton Houses was sold to A&E with the city providing some tax breaks.

Riverton Houses was sold to A&E with the city providing some tax breaks.

By Maria Rocha-Buschel

Less than two months after the announcement of the sale of ST/PCV, the city came to a similar agreement with Riverton Houses’ new owner A&E Real Estate to protect almost 1,000 low and middle-income homes at the development in Harlem, announcing that the property was sold for $201 million last Wednesday.

CWCapital had been in control of Riverton, a sister property of Stuyvesant Town/Peter Cooper, since 2010 after taking over from Larry Gluck’s Stellar Management. Stellar had bought the development in 2005, hoping to bring in higher-paying tenants, but defaulted on its $225 million mortgage and its lenders foreclosed.

The property was sold under an agreement to keep the remaining rent stabilized units affordable and in exchange, the city will provide A&E with property tax breaks and other incentives worth about $100 million. Affordability is being preserved through a real estate tax exemption, which will be provided for 30 years and was approved by City Council.

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