Wythe Greens Prospectus

Abstract

The Wythe Greens capstone project is a mission focused study, balancing financial returns with housing affordability, diversity and community needs within a rapidly gentrified neighborhood. A 6-story mixed use residential and commercial development in North Williamsburg, the project primarily targets the creative community displaced by gentrification. The programming includes 96 residential units along with almost 50,000sf of commercial space comprising artist studios, a maker lab and gallery, and resident focused street level retail. In recognition of the cities 80x50 goals, future-proofing to changing legislation and market demands, and best practice healthy living, the project is to meet Passive House and Enterprise Green Communities standards.

Two options were shortlisted: The baseline option includes 50% affordable residential units and below market commercial rates, with the alternate a 100% affordable housing model that pursues government subsidies. The correlating financial models demonstrate each option can meet the core social goals while achieving a designated minimum return.