Mixed-Rate Building Next to Atlantic Yards

The New York City Housing Development Corporation, which provides debt financing for affordable housing, announced a slew of new projects around the five boroughs last week, including one that will be in the shadows of the Atlantic Yards project. According to a June 13 press release, a new 10-story co-op with 80 low-, middle- and market-rate apartments will be built on the vacant lot at 669 Atlantic Avenue between South Portland Avenue and South Oxford Street in Fort Greene. This sounds like good news to us. We just can't believe that Bruce Ratner doesn't control this site. It's certainly a heck of a lot more blighted than some of the places he's trying to condemn by eminent domain. Then again, it might not be such good PR to try to hijack a property controlled by a do-gooder like Housing Partnership Development Corporation. It's much better business to go after property owned by moms and pops. Update: A reader points out that the Fifth Avenue Committee is actually the developer and Magnusson is the architect (and the source of the rendering we've added above). Oh, and the project is apparently being called Atlantic Terrace.
HDC Provides $320 Million For Affordable Housing [Brooklyn Eagle] GMAP
HDC Announces $320 Million in Affordable Housing Finance [HDC]

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This site is "blighted" because properties were condemned and torn down before there was a firm redevelopment project for the site ... you know, like Phase II of Atlantic Yards. Some people seem incapable of learning from the past.

Posted by: Anonymous at June 18, 2007 11:29 AM

Glad to see lot developed and some homes built that are not just for big $$$ people.

Posted by: Anonymous at June 18, 2007 11:35 AM

The Housing Partnership is not a developer, it is a conduit. There is an “evil/real” developer still involved. A little research would be nice…

Posted by: nit at June 18, 2007 11:35 AM

I can't believe it's taken them so long to develop this lot. It's been empty since I lived there six years ago. Most of the other lots nearby between Fulton and Atlantic were filled with those cute rowhouses. They're not bad inside either.

Posted by: Gari N. Corp at June 18, 2007 11:56 AM

New affordable housing being built after years of delay - Must be that dreaded 'Atlantic Yards Effect'

Posted by: David at June 18, 2007 12:03 PM

Oh, and obligatory anti-Ratner snark here, but Ratner has no interest in what's going on on the other side of Atlantic, beyond whether the condo owners at his new eyesore will somehow help him jack up the rents at his poxy subsidised mall.

Posted by: Gari N. Corp at June 18, 2007 12:03 PM

Fifth Avenue Committee is the developer. Other, earlier plans didn't work, which is why this last (not counting the Vanderbilt Yards) ATURA site is being developed so much later. A rendering and brief description is on the architect's website:
http://tinyurl.com/2jgzj8

Posted by: Anonymous at June 18, 2007 12:06 PM

It looks very similar to the building constructed around 10 years ago on Carlton and Atlantic, around the time Phase 2 of the three-family houses was built.

Posted by: rf at June 18, 2007 1:28 PM

I'm glad they will be co-ops, not rentals. A chance at ownership, not just cheap rentals, is what will help propel people upwards. A chance to have a physical stake in a community, utilize tax exemptions, equity - all the rights wealthier homeowners enjoy, is a good thing, and more programs should give people the opportunity to move from renters/tenants to owners.

Posted by: Sterling Silver at June 18, 2007 2:42 PM

the architect grouped (light panels inset in the red brick) the windows so they would have the same scale as clerstory windows in 19th century factory buildings, a contextual touch in a contemporary building that i think is pretty successfull

Posted by: Anonymous at June 18, 2007 3:29 PM

where do i get an application for these apartments? early bird catches the worm. the rest just write bout it on their blogs.

Posted by: J_kiddin at June 18, 2007 5:11 PM

Have fun living right across from the arena.

Posted by: Anonymous at June 18, 2007 7:50 PM

I read that the site for Atlantic Terrace was formerly a "Brownfield site"... what had the site been contaminated with? what kind of cleanup
was done?

Posted by: bren at June 18, 2007 11:35 PM

Is that commercial space on the ground floor I see or just common area for the tenants

Posted by: Ibo Landing at June 19, 2007 3:15 PM

commercial space

Posted by: Anonymous at June 19, 2007 3:31 PM

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June 18, 2007

Mixed-Rate Building Next to Atlantic Yards

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