A long-empty Broadway lot will soon be resurrected as a five-story, 38-unit residential development and is expected to help a downtown neighborhood bounce back following the most recent recession.
The lot, at 298-304 Broadway, at the corner of 14th Street, is the site of a former gas station and auto-repair shop, which had been closed for years. It’s now leveled and construction is slated to begin following a groundbreaking on Sept. 25, according to developer Mitchell Burakovsky.
“Everyone’s excited to have that dilapidated site turned into a nice, new building.” – Mitchell Burakovsky
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“The project should go full steam ahead on the 28th,” Burakovsky said on Sept. 10.
The project was able to move forward following the 3-2 City Council vote on Aug. 19 which approved a five-year tax abatement for it.
Council President Sharon Nadrowski, Councilman At Large Juan Perez, and Second Ward Councilman Sal Gullace voted for the five-year abatement. Third Ward Councilman Gary La Pelusa and First Ward Councilman Thomas Cotter voted against it.
Burakovsky sought a 20-year abatement in the spring but scaled back his request after the council did not introduce his development ordinance for a vote.
The council was more amenable this time around; Burakovsky said the project could not have gone forward without the five-year abatement.
The $6-million, 40,000-square-foot development will feature one- and two-bedroom apartments and a 19-car parking garage on the ground level. There will be no retail outlets. Pricing for the apartments has not been determined yet.
Progress and excitement
Burakovsky has been working on the project for the last year.
“I’m excited because this project’s moving forward now, to the next stage,” he said. “Everyone’s excited to have that dilapidated site turned into a nice, new building. They said they’re excited about something new in the area to help businesses and the neighborhood.”
The vote on Burakovsky’s project came right after the council approved a nine-story residential unit for the current Resnick’s property on 46th Street and Broadway that uptown residents were fighting.
“I think the City Council members decide what’s best for the city as a whole,” he said.
Timeline of development
The project is expected to take about 18 months to complete with the company eyeing a spring 2017 opening.
Burakovsky’s Skye Development is also working on a residential development at the former Bayonne Plumbing site at 22nd Street and Avenue E, near the Light Rail Station.
“We’re working with the city and hopefully breaking ground there in the spring,” Burakovsky said.
Joseph Passantino may be reached at JoePass@hudsonreporter.com.