Thursday, December 25, 2014

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Report: Affordable Housing at LICH Site in Question Again

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TWC News: Report: Potential LICH Developer Backs Out of Housing Plan
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A plan to replace Long Island College Hospital in Brooklyn with affordable housing is at risk after a potential developer reportedly backed out.

The Wall Street Journal reports an executive at L&M Development Partners, one of the companies on board to develop the project, says his group is no longer interested.

The executive says to make an affordable housing project work at the Cobble Hill site, they would probably need to build more housing in high-rise buildings, and community groups in the low-rise brownstone neighborhood would most likely be against that idea.

Fortis Property Group, who brought L&M onto the project, says they're still committed to an affordable housing plan at the site.

Fortis is expected to close on the $240 million sale of the hospital in the next few months.

While community members were against the closing of the hospital, some viewed affordable housing as an acceptable replacement.

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