Development Watch: 160 Schermerhorn Tops Out

Artists have traditionally migrated to less expensive areas in New York City, and then moved on as their neighborhood gentrified. But as real estate values have increased across Brooklyn, there are fewer areas left for people of modest means.

But a new housing development on Schermerhorn Street promises to preserve at least some affordable housing for artists and actors in Downtown Brooklyn, helping to maintain the diversity of the neighborhood.

And more than 50 percent of 217 units at Schermerhorn House will provide housing for the formerly homeless and people with special needs. The rest will be for low-income workers and artists.

Residents will live in efficiency studios that measure approximately 185 square feet. They will pay one-third of their income toward rent, but must earn less than $29,000 to qualify. The income limit may change by the time the project opens.

The developers, Common Ground Community, recently held a groundbreaking for the complex, on Schermerhorn Street between Hoyt and Smith streets.

“Schermerhorn House will ensure that the area reflects the diversity that defines Brooklyn,” said Borough President Marty Markowitz in a statement. “I wish we had a dozen more like it.”

The facility will also include a 200-seat black box theater and a space to host community art shows, rehearsals and performances.

Markowitz contributed $500,000 to the project from the Borough President’s Brooklyn Housing Development Fund. The fund is used to promote affordable housing.

Common Ground Community raised $865,682 through a challenge grant from the Robin Hood Foundation. Donations from corporations and individuals helped reach the amount needed to secure the money. Hamlin Ventures, LLC and Time Equities, Inc., provided the land as part of a trade-off for their condo development across the street. The city required them to provide 100 affordable units but they doubled that.

The project marks the beginning of the transformation of Schermerhorn Street into a new residential corridor. It is part of an area that was rezoned in 2004 to encourage mixed-use developments.

Polshek Partnership Architects designed the building, which received a citation from the 2005 American Institute of Architects’ Housing Design Awards.

Common Ground will manage the building and the Actors’ Fund will provide on-site social services, helping residents to hook up with employers and monetary assistance. They will also provide life-skill training such as cooking and art classes.

The $60-million project is scheduled for completion in October 2007 and should be fully occupied by March 2008.

Schermerhorn House will feature “green design” elements such as rooftop gardens and an efficient boiler system.

For information about applying for housing call Common Ground at (800) 324-7055 or email them at intake2005@commonground.org

“giving handouts always fails the very people it was meant to help.”

Yeah, you’re right. It would be so much smarter to just let these people stay homeless.

5:10 you are a douche of the highest order. Go shove a Adolf Hitler figurine up your bunghole.

Funny I always thought Social Work was for yentas who needed a job till they met an investment banker.