Friday, September 26, 2014

Dozen New Luxury Projects to Get Underway in Brooklyn

In New York City where neighborhoods transform in the blink of an eye, cranes and condominium towers have come to signify areas that developers refer to as 'hot' -- and construction in Brooklyn is scorching. There are presently more than a dozen new luxury rental or condominium projects about to get underway in Brooklyn, many of which will be built in the Prospect-Lefferts Gardens section of the borough.

626 Flatbush Avenue
626 Flatbush Avenue is a luxury residential tower being developed by the Hudson Companies, one block from Prospect Park in Prospect-Lefferts Gardens. The new building will rise 23 stories between Ocean and Flatbush Avenues and bring 254 units to the neighborhood, with 20 percent set aside as affordable housing.

Area residents failed to stop the developer from building the 23-story residential tower, and since a judge lifted a restraining order, excavation at the site has been full steam ahead.

The tower will sit back from the street about 100 feet, on what used to be a parking lot. The project also includes a shorter retail building on Flatbush Avenue which will lead into the residential tower.

Just 2 blocks away from 626 Flatbush Avenue, a 9-story apartment building will soon begin to rise on an L-shaped site at 33 Lincoln Road.  The building is being developed by Anderson Associates with Century Building Development as the general contractor.

The Lincoln Park Apartments will be constructed adjacent to the B/Q subway tracks, and bring an additional 133 units of new housing to Prospect-Lefferts Gardens. 20 percent of the apartments will be aside as affordable housing, and the remaining 80 will rent at market rates.

Amenities will include parking, a roof deck, a cafe, and 20,000-square-feet of retail space. The building will have entrances on both Lincoln Road and Flatbush Avenue, and is expected to be completed by next year.

Lincoln Park Apartments

Hello New York
Hello Lenox

A foundation is currently being laid for a new condominium building slated for 651 New York Avenue.

Hello Living, which has developed sites in Prospect Heights on the other side of the park, plans to build 40 condominiums at 651 New York Avenue and a 56-unit luxury rental building at 271 Lenox Road.

Each of the luxury buildings will feature private elevators opening directly into each unit and large private terraces as well as underground parking..

A La Quinta Inn will soon be coming to 1229 Atlantic Avenue near Nostrand, just a few blocks away from the new Barclays Center in the heart of Downtown Brooklyn.

The general contractor, Superior Glen Construction recently began excavation and foundation work at the large vacant lot on the Crown Heights border.

The new 42,000 square-foot hotel will rise seven stories and have 104 guest rooms. The hotel will also feature off-street parking spaces, a recreation room, lounge, meeting and conference rooms.

The La Quinta will join a few other new hotels nearby on Atlantic Ave, including a Best Western on the other side of Nostrand, the Hotel Luxe and the Atlantic Motor Inn.

1229 Atlantic Avenue

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$179M High Rise, Entertainment Complex for Jersey City Powerhouse

A developer is moving forward with plans to build a $179 million retail and commercial complex inside the long-dormant Powerhouse in Downtown Jersey City, a project the city says will be a game changer for the neighborhood.

The plans include a 40-story residential tower housing 370 units and 200 parking spaces.

Baltimore-based Cordish Companies, the developer behind the project, calls the tower an "expansion" of the 108-year-old Powerhouse, located on Washington Street.

Cordish Companies recently transformed an old power plant in Baltimore's touristy Inner Harbor into an entertainment complex.

The plan is to mimic what they did in Baltimore and create a “a world-class destination" at the Jersey City site. The Powerhouse was originally built in 1906 to provide power to the Hudson Tubes.

Mayor Steve Fulop said the tower is a vital component to making the long-stalled Powerhouse redevelopment financially feasible. Because of its historic nature, renovating the 180,000-square-foot behemoth will cost a tidy sum.

With the added cost of trying to preserve the 180,000-square-foot structure, he said, the developer will seek state incentives to build the 40-story residential tower alongside the historic building.

“Keeping the building the way it is, where it’s falling down and in disrepair — that’s not an option.”

The firm anticipates a nearly four-year process for stabilization, remediation and construction.

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