I
an Bruce Eichner announced Monday that he would withdraw his application for a Crown Heights project after the City Planning Commission approved it. The commission had modified the proposed rezoning to reduce shadows on the Brooklyn Botanic Garden, but an attorney for Eichner's Continuum Company said the changes made the project unfinanceable.

    The revised plans would allow for 355 units, including 91-106 income-restricted apartments, which is not enough market-rate units to offset the cost of affordable housing. The city's Mandatory Inclusionary Housing law requires a certain number of affordable units, but Eichner believes that with fewer market-rate units, the project cannot be profitable.

    Eichner had proposed 475 apartments, including 119 income-restricted units, but the commission's changes would effectively devalue the site, making it impossible to build on. Lenders require projects to be profitable enough to compensate for the risk of failure.

    The city's action was seen as a compromise between Eichner's firm and the Garden, which had previously objected to the project due to shadow concerns. However, Continuum argues that the institution should support the developer's proposal because it provides more protection against shadows than the current zoning.

    Council member Crystal Hudson would have been the deciding vote on the application, but her opposition was seen as less likely given the changes made by the commission. The Adams administration wants more mixed-income housing, and Eichner is building a project that meets this goal.

    Eichner's previous attempt to rezone the site was rejected due to shadow concerns, but the revised plans would shorten the portion of the building closest to the Garden and leave the east side section at 14 stories. The developer had proposed 1,500 units in his initial plan, but the commission's changes have made it impossible for him to finance the project.

    Continuum is currently evaluating its path forward, but Eichner intends to withdraw the application. The fate of the site remains uncertain, with some community members opposing new housing without affordable units and others seeing it as an opportunity for much-needed development.