NYCHA Wyckoff Gardens Zoning and Underwriting Analysis
In fulfillment of a Masters degree in Urban Planning, I took a course in real estate finance and underwriting. For this course, I worked on a team to respond to an RFP that was previously issued by the New York City Housing Authority (NYCHA) soliciting proposals for infill development at the Wyckoff Gardens Development in Brooklyn.
Using the existing zoning and RFP parameters, we created a theoretical master plan for the campus which would add 500 dwellings units, 250 affordable units, a 20,000 SF FRESH grocery store, 10,000 SF of retail space, and 10,000 SF of community facility space within two contextual building envelopes. When then underwrote this program, analyzing the impact of tax credits, zoning bonuses, city subsidies, development costs, and various other factors.
Property Owner