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Developer proposes 140-unit mixed-use project at 47–51 Cannon Street; seeks $1.5M DRI grant
Summary
Applicant Jim Sullivan said his team has planning approvals and a $500,000 Empire State Development grant for a craft beverage facility; the $34 million project requests $1.5 million in DRI funding to complete the capital stack and attract hospitality tenants downtown.
Jim Sullivan, the applicant for a proposed mixed-use redevelopment at 47 and 51 Cannon Street, told the Local Planning Committee the project would cost about $34 million and that his team is requesting $1,500,000 in DRI funding. Sullivan said the development would contain about 140 apartments and roughly 12,000 square feet of commercial space, with a planned 6,000-square-foot artisan beverage manufacturing facility and hospitality-oriented commercial uses for the balance.
“We're targeting between,…
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