It’s hardly breaking news, but The Brooklyn Paper has a story this week about Forest City Ratner Companies receiving $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds issued by the New York State Housing Finance Agency for the 335,000-square-foot building under way at 80 DeKalb Ave. According to The Brooklyn Paper, critics say that this translates into tax payers underwriting each affordable unit to the tune of $1.5 million. Wachovia Bank and Helaba provided “credit enhancement” to the $137 million in bonds. The 34-story tower, Ratner’s first residential building in Brooklyn, was designed by Costas Kondylis. It’s an 80/20 unit with 292 market-rate rental units and 73 affordable ones, that will remain so for 99 years. The building is to be green—they expect to achieve LEED certification—and could begin leasing next summer.
Ratner’s First Tenants [The Brooklyn Paper]
New Glassy Tower to Join Fort Greene Mini-City [NY Observer]
Development Watch: 80 Dekalb Avenue [Brownstoner] GMAP P*Shark DOB
80 Dekalb Avenue: Get Ready for Take-Off [Brownstoner]
Public Hearing Scheduled for 80 Dekalb Financing [Brownstoner]
Demo Done at Site of Ratner’s Dekalb Tower [Brownstoner]
At 80 Dekalb, No Mention of Ratner [Brownstoner]
Ratner: ‘Fort Greene, I’ve Got You Surrounded’ [Brownstoner]
Scaffolding went up on the Montauk Club at 25 8th Avenue in Park Slope earlier this month. Looks like they might be repointing the brick in the front. Anyone know what they’re doing? Incidentally, when there was scaffolding on the landmark building in 2011, six brides threatened to sue to get their deposits back.
A mixed-use row house that looks like it will fit in well with the neighbors is going up at 202 Grand Street in Williamsburg, in what was previously an empty lot. We’re happy to see the heights of the stories are in keeping with the context. This has potential, depending on what finishes are chosen. […]
Winter has finally packed its bags, and it’s a perfect time to plant all manner of trees, perennials and annuals. It is also a great time to weed and reseed your lawn, before the weather gets so warm Bermuda grass takes over. Warmer days and frequent rains give everything a good start. In preparation for […]
Seven homes out of nine have sold at the Townhouses of Cobble Hill development, according to a PR rep. The Landmarks-approved modern-yet-contextual houses at 110-126 Congress Street went on the market in May for $3,650,000 to $4,200,000, and only 110 and 114 are still available. The four-bedroom, five-bath house at 110 Congress has 3,318 square feet […]
Average rents rose 77 percent in Brooklyn while city wide real median income fell 4.8 percent from 2000 to 2012, according to a report out from the city comptroller described in The New York Post. The increases were the largest in any borough. A story in the Times implied that meeting Mayor de Blasio’s stated […]