HPD - Developers - Tax Incentives - Inclusionary Housing

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Greenpoint-Williamsburg Inclusionary Housing

The Greenpoint-Williamsburg Inclusionary Housing Program is divided into two areas: Waterfront and Upland (non-Waterfront). Please see the map for reference.

Floor Area Bonus

Affordable units can be created on the same site or on a different site as the development seeking a zoning bonus. Off-site affordable units must be constructed or preserved within Community District 1 or within ½-mile of the market rate development(s) in an adjacent Community District in Brooklyn.

Greenpoint-Williamsburg Upland

Upland sites are eligible for up to a 33% density bonus in exchange for providing 20% of the development as affordable housing. The bonus is implemented as follows: Each square foot of low-income housing created (rented to households at or under 80% of area median income (AMI)) generates 1.25 square feet of zoning bonus up to the maximum floor area ratio (FAR).

Floor Area Ratio and Height Limits

District	Max FAR w/o Bonus	Max. FAR w/ Bonus	Max. Base Height	Max. Total Height
R6B, M1-2/R6B	2.0	2.2	40’	50’
R6, M1-2/R6(narrow street)	2.2	2.42	45’	55’
R6A, M1-2/R6A, R6, M1-2/R6 (wide street*)	2.7	3.6	60’	70’
M1-2/R7A	3.45	4.6	65’	80’

* A wide street is any street 75 feet or more in width.

Greenpoint-Williamsburg Waterfront

Waterfront market-rate sites are eligible for various floor area increases, depending on the project’s zoning district.

On a site located within either an R6 or R8 district or a combination of the two districts, a development must provide the following amount of affordable housing to earn the bonus:
- 20% of total residential floor area affordable to low-income households (at or below 80% AMI); or
- 10% of total residential floor area affordable to low-income households, plus 15% of total residential floor area affordable to moderate-income households (at or below 125% AMI).

On a site located entirely within an R6 district, a development must provide the following amount of affordable housing to earn the bonus:
- 7.5% of total residential floor area for low-income households; or
- 5% of total residential floor area for low-income households, plus
  5% of total residential floor area for moderate-income households.

Financing & Tax Benefits

A project developed in the Upland area may be eligible for an as-of-right 15-year 421-a partial tax exemption, subject to 421-a requirements. Upland projects with affordable components on-site may be eligible for 25-year 421-a benefits.
Waterfront projects do not receive as-of-right 421-a tax benefits because they lie within the 421-a Geographic Exclusion Area. A Waterfront development providing at least 20% of its units on-site as affordable housing may be eligible for a 25-year partial tax exemption. In addition, a Waterfront development purchasing off-site affordable housing through the 421-a Greenpoint Williamsburg certificate program can receive a 15-year exemption with the approval of HPD; the 421-a legislation limits the total district-wide number of off-site units granting 15-year eligibility to 200.
80/20 and other public subsidy programs may be used in conjunction with the construction or rehabilitation of the Inclusionary Housing Program described above.
A project receiving tax credits that is at least 50% non-profit (501(c)(3)) ownership, may be eligible for a 420-c tax exemption.
A project undergoing moderate or gut rehabilitation or conversion from a non-residential building may be eligible for a J-51 tax exemption.
A project owned by an HDFC may be eligible for full or partial tax exemption pursuant to Article XI, subject to the approval of the New York City Council.