Property Markets Group – Gowanus Redevelopment, Brooklyn
Representing Property Markets Group (PMG) regarding New York City’s rezoning study for the Gowanus Canal area. Herrick successfully completed a year-long review process at the New York City Planning Department to "certify" the Gowanus Canal public access plan – include a 20,000 sq. ft. shorefront esplanade PMG's development site at Sackett and Bond Streets. We are thrilled that PMG is one of the first developers in the Gowanus to gain approval from City Planning following the November 2021 rezoning of the area. This critical milestone and approval will now allow PMG to proceed with a Building Permit to allow construction at their site – providing the team with enough time to complete construction and qualify for the now-expired 421-a program before the final June 2026 deadline. The Development is currently planned to include 500+ units of housing, including a significant permanently affordable housing component, ground floor retail, and a publicly-accessible esplanade and open space filled with recreational activities, art, and amenities along the Gowanus Canal.