This article was originally published on NY Post - Business. You can read the original article HERE
The imminent completion of LCOR’s 1515 Surf Avenue is the best news Coney Island has seen since the Parachute Jump was designated as a city landmark.
The twin-towered apartment building just a short walk to the ocean brings the neighborhood just what it needed: more market-rate housing.
The project’s 16 and 26-story towers will have 324 apartments, of which more than half are market-rate.
The rest are “affordable,” a product which Coney Island has in abundance. There’s nothing wrong with lower-priced new homes, but the area needs more middle-income residents to support better stores and restaurants than now exist.
The building also has 10,600 square feet of retail. LCOR, an experienced, major-league developer, can surely draw the kinds of ground-floor businesses that local residents at every income level need.
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