Bed Stuy 80/20 Building Opens Next Year
A 10-story mixed-use building with 50 apartments is going into an empty lot at 27 Albany Avenue in Bed Stuy. The building will have 10 affordable apartments and the rest will be market rate, according to NY YIMBY, which found the above rendering. Construction has not started but the building is supposed to open next…
A 10-story mixed-use building with 50 apartments is going into an empty lot at 27 Albany Avenue in Bed Stuy. The building will have 10 affordable apartments and the rest will be market rate, according to NY YIMBY, which found the above rendering. Construction has not started but the building is supposed to open next year.
The developer is BRP Companies and Marvin Meltzer of Montroy Andersen DeMarco is the architect of record, according to a new building permit and NY YIMBY. It sits across Fulton Street from the Acacia, another 80/20 building that rented out quickly when it debuted last year.
The rendering for 27 Albany shows facing in three earth tones (yellow, red and light gray), with one section of the building set at an angle, and numerous windows, all mullioned.
A description of the building on Loci Architecture’s website says it will be rentals, but Meltzer recently filed a condo application for the building that includes residential.
What do you think of the look?
Revealed: 27 Albany Avenue [NY YIMBY]
Rendering by Marvin Meltzer via NY YIMBY
I think it looks quite, quite nice. It will be such an improvement to that streetscape!
Also – per the developer’s website this project is a 50-30-20 rather than an 80-20 which means that 50% are market rate, 30% are targeted to a restricted, middle-income category and then 20% are indeed for low-income households. In more detail for anyone who is curious:
https://www.nychdc.com/content/pdf/Developers/Mixed%20Income%20termsheet.pdf
I also heard a rumor it was going to be a high end organic supermarket. Has that been confirmed?
the condo application is due to the rules of tax-exempt financing pertaining to the 80-20 structure. the residential component should still be rentals; they are simply parsing out the commercial space from the community space from the residential space, per the restrictions associated w their financing.
Glad to see the corner developed. I only hope the retail spaces are used better than the Acacia, which has a Deals store – basically a dollar store. I had been hoping for a nice supermarket. Keeping my fingers crossed.
Deal$ sucks. Doesn’t even have air conditioning!
Its going to be a high end organic supermarket. It was part of the deal to get this built…
How did you learn that? I hope it’s true. Foodtown is the only other decent grocery option, and it’s overpriced for mediocre quality.