New residential developments in the R8A districts along a section of 4th Avenue in South Park Slope, Brooklyn (Community District 7) may take advantage of the South Park Slope Inclusionary Housing Program. Please refer to the zoning map. 

Floor Area Bonus

In R8A zoning districts, developers of market-rate housing may secure up to a 33% density bonus from the as-of-right 5.4 floor area ratio (FAR) to 7.2 FAR, in exchange for providing up to 20% of development as affordable.

The bonuses are implemented as follows:

•  For each square foot of affordable housing provided, the development is eligible for 1.25 square feet of bonus floor area, up to the maximum FAR.
• Affordable units can be provided either on the site of the development earning the bonus, or off-site through new construction, or through preservation of existing affordable units. Off-site affordable units must be located within Community District 7 or in an adjacent community district within ½-mile of the market-rate development.
• Affordable housing must be rented to low-income households (with incomes at or under 80% of area median income).

Financing & Tax Benefits

•  A newly constructed project in the South Park Slope district may be eligible for an as-of-right 15-year 421-a partial tax exemption, subject to 421-a requirements.
• A project providing at least 20% of its units as affordable on-site may be eligible for 25-year 421-a benefits.
• 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.

For More Information Contact:

Arden Sokolow
Director, Inclusionary Housing Program
(212) 863-6196

Additional Materials:
Inclusionary Housing Guidelines Addenda-South Park Slope & Maspeth/Woodside

More Info:
Department of City Planning:
South Park Slope Rezoning website
Inclusionary Housing Program website