The luxury, market-rate housing, on seaside lots between W. 34th and W. 36th streets, will be roughly a mile from the nearest subway station, separated from MCU Park by several public housing developments. It will be called "Ocean Dreams".
In addition to 400 apartments, the development plans to bring new retail, as well, including perhaps a supermarket, which area residents would welcome. It could also bring new seaside restaurants.
The plan could still meet opposition. The Post reports:
The city’s 2009 re-zoning of the neighborhood allows for ocean-side high-rises just west of MCU Park between Parachute Way and W. 22nd Street, but the homes must be affordable for low-income residents — both renters and owners — according to the Department of City Planning...“The developers aren’t being clear if the housing will be affordable,” said Community Board 13 member Evelyn Strasser, one of the five people who voted against Ocean Dreams. “It could be unfair to people in the community.” Department of City Planning documents from the original 2005 proposal estimate the apartments will cost between $350,000 and $600,000, but [the new developer] won’t specify what the new rates will be. “The buildings are in a low and moderate income area, so the rates will be reasonable,” said David Weisz, who is spearheading the project with [the developer].
And when have you ever not been able to trust a developer?