October 1, 2016

The Gowanus Gamble

Mentions News

The Real Deal

Gowanus, a neighborhood teetering on the edge of gentrification, is getting a second shot at redemption. Six years after a rezoning plan was torpedoed by the federal designation of the Gowanus Canal as a toxic Superfund site, the city in August announced that the Department of Planning would initiate a study on the neighborhood for a possible rezoning. In doing so, Gowanus will join East Harlem, East New York and Long Island City as areas targeted for rezoning under the city’s affordable-housing strategy.

“There’s a lot of speculation by developers who believe they’ll be able to do things you can’t do now,” said Dan Marks, a partner at the Brooklyn-based investment sales brokerage TerraCRG.

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