The City Planning Commission on July 15, 2026 reviewed City Council modifications to the Monitor Point rezoning in Greenpoint and found those modifications within land‑use scope, noting the changes would add 300 income‑restricted units under an agreement with the Department of Housing Preservation and Development (HPD) and that the east building would be 100% income‑restricted and financed under an HPD new‑construction finance term sheet. (Source: https://youtu.be/fSVAqJvofEE&t=593)
# What’s happening
– The City Planning Commission found City Council modifications to Monitor Point within land-use scope.
– DCP staff reported the modifications add 300 income‑restricted units via an agreement with HPD.
– The Commission sent a scope‑determination letter to the City Council on July 15, 2026.
Source: https://youtu.be/fSVAqJvofEE&t=593
# Why it matters
– Prospective low‑income renters in Greenpoint could access hundreds more permanently income‑restricted apartments.
– The modifications change unit mix, AMI bands, open‑space area, and waterfront public access for local residents.
Source: https://youtu.be/fSVAqJvofEE&t=593
# Key details
– Meeting: City Planning Commission special review session, July 15, 2026, at DCP hearing room, 120 Broadway, and via Zoom.
– Site: Monitor Point, 40 Quay Street, Greenpoint, Brooklyn.
– Physical scope: Modifications describe three buildings totaling 1,008,247 square feet and a floor‑area ratio (FAR) of 7.14.
– Affordability: DCP staff reported 388 MIH (Mandatory Inclusionary Housing) units plus 300 additional income‑restricted units pursuant to an agreement with HPD.
– Program changes: Approximately 9,900 square feet of commercial use, 21,000 square feet of community facility use, and about 55,700 square feet of publicly accessible open space.
– Design changes: East building proposed at 340 feet (a 90‑foot increase), and the waterfront yard waiver was removed, making the waterfront yard 40 feet along the museum frontage.
Source: https://youtu.be/fSVAqJvofEE&t=593; https://youtu.be/fSVAqJvofEE&t=514; https://s-media.nyc.gov/agencies/dcp/assets/files/pdf/about/commission/review-sessions/2026-07-15srs.pdf
**Monitor Point**
– Role or jurisdiction: Private mixed‑use development proposal on MTA‑controlled land at 40 Quay Street, Greenpoint.
– Action taken or responsibility: Subject of City Council modifications and CPC scope determination; applicant adjusted building heights and program to add affordable housing.
– Relevant numbers or dates: Project figures discussed July 15, 2026; DCP staff cited 388 MIH units plus 300 additional income‑restricted units.
Source: https://youtu.be/fSVAqJvofEE&t=593
**Department of Housing Preservation and Development (HPD)**
– Role or jurisdiction: City agency that finances and enforces income‑restricted housing programs in New York City.
– Action taken or responsibility: Staff reported the additional 300 income‑restricted units are “pursuant to an agreement with HPD”; the east building will be financed under HPD’s new‑construction finance term sheet.
– Relevant numbers or dates: Term sheet referenced during the July 15, 2026 CPC special review session presentation.
Source: https://youtu.be/fSVAqJvofEE&t=593
The City Planning Commission opened the July 15 special review session to consider City Council modifications to Monitor Point and a DCP technical memorandum assessing those modifications. (Source: https://youtu.be/fSVAqJvofEE&t=350)
DCP staff told the Commission the technical memorandum found the Council modifications would not create new or greater significant adverse impacts beyond those in the Final Environmental Impact Statement (FEIS). (Source: https://youtu.be/fSVAqJvofEE&t=593)
DCP staff described program and sizing changes: the modifications reallocate some commercial and museum program to residential; the applicant now proposes roughly 9,900 square feet of commercial space, 21,000 square feet of community facility, and about 55,700 square feet of publicly accessible open space. (Source: https://youtu.be/fSVAqJvofEE&t=667)
Staff reported the modified development envelope totals 1,008,247 square feet with a 7.14 FAR and that the package would include 388 MIH units plus 300 additional income‑restricted units secured by an agreement with HPD; staff said the east building would be 100% income‑restricted and financed under HPD’s new‑construction finance term sheet. (Source: https://youtu.be/fSVAqJvofEE&t=593)
Commission staff noted changes to bulk and waterfront rules: Building 2’s overall height was raised to 340 feet (a 90‑foot increase) and the previously approved waterfront yard waiver was removed, so the required waterfront yard will be 40 feet along the museum frontage. (Source: https://youtu.be/fSVAqJvofEE&t=514)
The Commission voted by voice to send a scope‑determination letter to the City Council, concluding the Council’s modifications are within land‑use scope and do not require additional waivers. (Source: https://youtu.be/fSVAqJvofEE&t=667)
Commissioners and community representatives asked about unit mix and deeper affordability beyond MIH bands. The applicant said it favors MIH Option One for certain parcels, expressed openness to more two‑ and three‑bedroom units, and said it would provide written responses on deeper affordability considerations. (Source: https://youtu.be/fSVAqJvofEE&t=3310)
At the July 15 session DCP repeatedly referenced earlier City Council action on Monitor Point; the Council’s Land Use Committee approved modifications to the project on June 25, 2026. Those Council modifications were the subject of the July 15 CPC review. (Source: https://youtu.be/PliES8Kdy_k&t=1826)
The CPC record on July 15 does not recite the specific form of a recorded restrictive declaration on the property; the staff presentation described the additional units as secured “pursuant to an agreement with HPD” and referenced financing under HPD’s new‑construction term sheet for the east building. (Source: https://youtu.be/fSVAqJvofEE&t=593)
In earlier, external explanatory materials about HPD program practice, HPD has described that income‑restricted units provided through programs including MIH and HPD financing are enforced through a restrictive declaration approved by HPD and recorded against the property; the restrictive declaration identifies income‑restricted units and their rent and income restrictions and remains in effect while the building exists. This explanation is from prior public presentations on HPD program administration and is external to the July 15 CPC meeting. (Source: https://youtu.be/DUOH2tY_qhQ&t=4575)
Public testimony at prior Monitor Point hearings and Council sessions discussed tradeoffs among open space, museum programming, and additional affordable units; City Council remarks during the June 25 committee meeting described how converting commercial and museum space, adding MTA‑controlled land, and increasing the east building height were used to raise the number of permanently affordable apartments. Those Council discussions preceded the July 15 CPC review. (Source: https://youtu.be/PliES8Kdy_k&t=1826)
The Commission’s scope determination transmits its assessment back to the City Council and does not itself enact the zoning modifications; the Council’s modifications and any HPD financing agreements are the mechanisms that would implement the additional income‑restricted units if and when finalized. (Source: https://youtu.be/fSVAqJvofEE&t=593)
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