MTA tests rezoning upside with Pacific Street offering

The MTA is taking a swing at cashing in on Brooklyn’s latest rezoning wave, putting a long-overlooked Pacific Street parking lot on the block with residential upside baked in. The agency issued an RFP for 1119 Pacific Street, a 30,000-square-foot site it has used for parking since 2009. The offering is straightforward — sell the land to fund the transit system’s capital program — but the real story is what changed: zoning. Until recently, the parcel was hemmed in by low-density commercial and industrial restrictions. Now it can support roughly 300 apartments. That shift is the direct result of two […] This article originally appeared on The Real Deal. Click here to read the full story.