GREENPOINT, Brooklyn (PIX11) — A complex with over 600 affordable housing units, stores, a community space, and a museum overlooking the East River is coming to Brooklyn.
The mixed-use development will take up the land located at 40 Quay Street and 56 Quay Street. Owned by the MTA and the Greenpoint Monitor Museum, the two entities are working with Gotham Organization to develop the project called Monitor Point.
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Over 1,300 rental homes, around 50% of which will be set aside for affordable housing, will be included in the development, according to the MTA.
The development will include a waterfront walkway, a park and 100,000 sq. ft. of mixed retail and commercial space.
The MTA is leasing its portion of the property for 99 years, and the revenue received will be used to fund transit projects across the entire system.
“When New York City Transit bought this site in the 1990s, the North Brooklyn waterfront was an industrial enclave,” said MTA Chair and CEO Janno Lieber. “Today our facility no longer fits in, so better to redevelop the land and create much-needed new housing while generating new revenue to fund transit improvements.”
One of those MTA projects includes making the nearby Nassau Avenue subway station, served by the G train, fully accessible.
Construction in the area is not expected to begin until 2028, according to the developer.
Andrew Cruz is a digital content producer. A native New Yorker, he joined PIX11 in 2009 as a weather producer. More of his work can be found here.