Residents of the coop complex will decide on the sale of air rights to allow condos flanking the Bialystoker nursing home
Plans to erect two residential towers on either side of the landmarked Bialystoker Nursing Home, are at the center of a debate among residents of the Seward Park Cooperative, a massive residential complex on the Lower East Side.
In 2017, developer the Ascend Group started negotiations with the coop to purchase air rights from the complex that would allow it to build taller towers than what zoning allows in the neighborhood. The $54 million offered by the developer would go toward paying part of the Seward Park Coop's debt, and toward the installation of new elevators, and general repair throughout the building, according to the New York Times, which recently reported on the proposed air rights sale.
While many residents are in favor of the sale, others worry that these new residential towers will blocks views and light from the coop complex, and cast shadows over the complex's beloved interior gardens. They also worry that these new developments will further speed up gentrification in the neighborhood, and drive out some of the low-income owners in the coop complex.
Coop residents in favor of the air rights sale argue that the sale will in fact help these residents. The Ascend Group has thrown in some additional incentives like paying maintenance costs for all residents of the complex's 1,602 apartments, for four months. There's also the argument that without the sale of the air rights, the developer can still move forward with a plan (albeit shorter towers) that wouldn't financially benefit the coop complex in any way.
With the sale of the air rights, Ascend plans to build a 22 and 33-story building on either side of the former nursing home, with the landmarked structure's base serving as the lobby for the new condo development. Without the sale, the developer will build 17 and 20-story structures, respectively.
Shareholders at the coop are scheduled to vote on the air rights sale on Tuesday, and will determine the fate of the next phase of development on the Lower East Side.
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