Development team for 324 E. 5th St. affordable housing project to appear before CB3

Photos by Stacie Joy

The team behind the proposed affordable housing development at 324 E. Fifth St. will introduce itself at Community Board 3's Land Use, Zoning, Public & Private Housing Committee meeting tomorrow evening (Oct. 14). 

The meeting starts at 6:30 p.m. at Middle Collegiate Church, 50 E. Seventh St. between First and Second Avenues. The hybrid meeting will also be accessible via Zoom. (Link here.)

As previously reported, the city-owned site between First and Second Avenues is currently used as an NYPD parking lot. The Cooper Square Committee has been working with the Department of Housing Preservation and Development on a proposal dubbed Aurea, which calls for affordable housing on the property. The project was officially introduced on July 13. (A rendering of the project as seen in July.)

The original proposal envisioned a development devoted entirely to affordable housing for seniors. However, Cooper Square Committee Executive Director Steve Herrick told EVG in August that the final mix may look different because of the availability of operating subsidies.

"While we proposed 100% senior housing, there currently aren't enough operating subsidies to guarantee 100% seniors given how low their incomes are, which are typically less than 30% of AMI," Herrick said. 

Herrick said the building would still be primarily for seniors, potentially around 70%, with some low-income family housing included. He stressed that the details remain unsettled and that 100% senior housing remains the goal if sufficient subsidies become available.

In a statement to EVG's Stacie Joy, HPD Deputy Press Secretary Kim Moscaritolo said the project "will serve low- and very low-income New Yorkers, including seniors."

She added that plans include community space for seniors that may also serve the broader community.

The final height of The Aurea has not yet been determined and will depend, in part, on a future rezoning of the site. If approved, construction is expected to take about two years.

Meanwhile, some nearby residents who support affordable housing at the site continue to raise concerns about the proposed development's size and design and the amount of public open space.

The 5th Street Park Coalition has pushed back against a proposed rezoning of the property from R8B to R7X, which would allow a denser, taller development. 

"We remain strongly supportive of affordable housing on the site but feel the scale and design — if left without any pushback — will masticate this tiny EV street," Coalition co-founder John White told EVG. 

White said the group wants the project to include "open public community green space" and a mix of community uses. The coalition has been discussing its concerns with HPD, CB3, City Council member Harvey Epstein's office and Village Preservation, he said. 

Below: 5SPC visualization based on an HPD rendering

Ahead of tomorrow's meeting, flyers have appeared on the block urging residents to "say no to the plan." It's unclear who is behind them — or whether the objection is to affordable housing on the site or to the proposed size of the development.

Wednesday's committee appearance is listed as an "Introduction to Development team for 324 E. 5th St. affordable housing," so this isn't yet a presentation of a finalized project.

It should, however, offer the public its first look at where the plans stand since the proposal surfaced this summer.

Meeting details:

The Land Use, Zoning, Public & Private Housing Committee meeting is tomorrow (Oct. 14) at 6:30 p.m. on the third floor of Middle Collegiate Church, 50 E. Seventh St. between First and Second Avenues. The meeting is open to the public and will also be accessible via Zoom. Link here.

Previously on EV Grieve: 

• The Aurea: Affordable housing planned for longtime NYPD parking lot on 5th Street