The refined plans for two distinct buildings to rise up to 64 feet in height on the parking lot parcel at 425 Broadway, which wraps around the three-story Crowbar building on the corner of Broadway and Montgomery, were approved, as slated, and an exemption from having to complete an exhaustive environmental review has been filed with the County Clerk.
The approved plans will yield a total of 41 condos (a mix of 15 one-bedrooms, 21 twos and 5 threes), with 4,940 square feet of ground floor retail space, 18,735 square feet of office space (for “design professionals”), a landscaped “Verdi Alley” between the two buildings, and a residential garage for 17 cars. And as designed, only three (3) of the 41 units would need to be sold at below market rates (BMR), with a State Density Bonus allowing for the height, density, bulk and affordability of the project as proposed, as we outlined last year.
All that being said, building permits for the project have yet to be requested, much less approved. And yes, it’s a trend.