Spurring on SPURA: Lower East Side Mega-Development, Decades in the Making, Will Become Affordable Forever


Exciting news for residents and denizens of the Lower East Side tonight. After, oh, seven decades, the city has finally reached a deal to redevelop the Seward Park Urban Renewal Area, those swathes of parking lots just south of the Williamsburg Bridge affectionately known as SPURA.

SEE ALSO: Essex Crossing Developers Seal First Permanent Loan With $17M in Financing

According to two people present at the meeting (The Observer had other commitments, tonight, in addition to closing the paper—more on that tomorrow), the plan presented by the city’s Economic Development Corporation, with 900 apartments and nearly a million square feet of commercial space, was unanimously approved by Community Board 3. The linchpin, announced by Councilwoman Margaret Chin, was that the city had agreed to make half of those units permanently affordable, rather than a possible sunset 60 years out.
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