Construction Starting Next Year on 2 Downtown High-Rises

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The big development news this morning is that long-held plans for two Downtown Brooklyn residential skyscrapers, 388 Bridge Street and Willoughby West, are being dusted off, and construction is supposed to start on both next year. An article in the Journal notes that the two buildings are slated to be the tallest in the borough. Stahl Real Estate says it intends to start building 388 Bridge Street, rendered at right, early next year. The developer recently received financing for the 590-foot building, which is now being planned as a condo-rental hybrid (234 rental units, 144 condos) rather than a straight-up condo. (As we reported a couple years ago, a brownfield investigation at the 388 Bridge construction site probably played a role in delaying the building’s construction.) Meanwhile, Avalon Bay says it expects to start building its 596-foot Willoughby West rental, which will have 861 apartments and rise at Willoughby and Bridge streets, late in 2012. Avalon recently purchased another parcel on Willoughby Street for the development, but there hasn’t been any demolition action on the block yet.
Developers Launch Battle Of Brooklyn [Wall Street Journal]

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