Thursday, January 2, 2014

Plans for New 52-Story Apt Tower in Brooklyn

Groundbreaking looms for a 52-story mixed-income residential tower that will rise in downtown Brooklyn's BAM Cultural District. The building at 250 Ashland Place on the corner of Fulton Street will contain 586 one- to three-bedroom apartments. Construction is expected to get underway within weeks and will last three years. Gotham Organization wants the project to meet the criteria for Enterprise Green Communities, a green building program that’s similar to LEED.

The city and a developer group recently closed on $278 million in financing for a 52-story mixed-income residential tower slated to rise in downtown Brooklyn, officials announced Monday.

The building will be located between Rockwell and Ashland Place, next to Theater for a New Audience.

As with all city projects, 250 Ashland is a joint venture, and the Gotham Organization and DT Salazar are developing it with the NYC Housing Development Corporation on a vacant parcel purchased from the city.

Housing officials hoped the financing will not just help pay for a new building—but will sow additional seeds for the long-planned new neighborhood.

"This project, and those to come, will transform these vacant and underused lots into mixed-income affordable housing and cultural space that will become a real bricks and mortar community and home for these artists, performers, and for low- and moderate-income New Yorkers," according to the city Department of Housing Preservation and Development website.

The building will be made of three different-colored materials to make it blend in better with the neighborhood. It will also have a podium that extends out from the base. There will be 10,800 square feet of ground-floor retail on Fulton Street, and 8,000 square feet of cultural office space on the second floor, all of which the city contends will mesh with the other developments completed and planned for the district.

The building, located between Rockwell and Ashland Place, won’t have a garage because it’s being built directly on top of the subway.

The new tower will be one of several developments in the borough's planned culture hub.

A team including Jonathan Rose Companies is slated to construct another mixed-use building on the same block, while two new theaters opened in the area in October.

The project is being built under the New Housing Marketplace Plan, with 282 of the 586 apartments designated as permanently affordable to low- and middle-income families.

The apartment building will contain 118 units affordable to families making up to $51,540 for a family of four. Families making about $115,965 for a family of four will have access to 82 units, according to the city, while the remaining 82 units will be set aside middle income families earning roughly $141,735 for a family of four.

Visit Our Sponsors

Page Views

Since October 1, 2011