Queens-based property development and asset management firm Criterion Group is advancing plans for an extensive residential scheme in the New York borough of Brooklyn. The developer has submitted a rezoning application to the New York City Department of City Planning to deliver a 321-unit mixed-use building at 900 Wyckoff Avenue in the Bushwick neighbourhood.
The submitted planning documents outline a 13-storey structure with a total gross floor area of around 261,000 square feet. Of the planned 321 residential units, 85 are to be permanently designated as affordable housing. Alongside the residential component, the design includes approximately 19,200 square feet of commercial space as well as ground-floor retail.
Redevelopment of existing car park site
The site in question on Wyckoff Avenue is situated between Weirfield Street and Hancock Street and is currently used as a surface car park. Jaclyn Scarinci of the law firm Akerman is acting as the primary applicant for the scheme. Neither Criterion Group nor Scarinci initially commented when asked about the details of the ongoing process.
In the justification for the rezoning application, Criterion Group states that the proposed Bushwick scheme will actively advance the principles of the municipal initiative titled 'Block-by-Block: The Housing Plan for a New Era'. Furthermore, the project contributes to the City of New York's overarching target of delivering a total of 200,000 affordable homes over the next decade.
Acquisition of sites in 2021
Land registry records show that Criterion Group acquired the site at 900 Wyckoff Avenue in March 2021 for a purchase price of $4.7 million. In the same month, the company also secured the immediately adjoining property at 932 Wyckoff Avenue for an identical sum of $4.7 million. By consolidating the plots, the developer holds the requisite capacity to implement the intended urban densification in the Brooklyn district.
