5Pointz developers pledge more affordable housing in bid to gain city approval
Call it the art of the deal.
The owners of the 5Pointz Aerosol Art Center are so eager to knock down the graffiti haven and replace it with high-end apartments that they have more than doubled the number of units they’re willing to set aside for affordable housing.
Jerry Wolkoff and his son David Wolkoff, of G & M Realty, agreed to increase the number of affordable units from 75 to 210 when they seek City Council approval Wednesday for the 41- and 47-story towers, which would require a special permit to build bigger than current zoning allows.
Preference is expected to go toward city workers, teachers, veterans, seniors and residents of Community Board 2, which encompasses the area.
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