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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&#8212they expect to achieve LEED certification&#8212and 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]


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