Development Watch: 162 Myrtle Avenue
Work has been underway at John Catsimatidis’ project at 162 Myrtle Avenue for a month or so at this point. The action for now seems to be focused on the eastern end of the site, at the corner of Myrtle and Ashland Place, where a sizable hole has been dug and foundation work is presumably…
Work has been underway at John Catsimatidis’ project at 162 Myrtle Avenue for a month or so at this point. The action for now seems to be focused on the eastern end of the site, at the corner of Myrtle and Ashland Place, where a sizable hole has been dug and foundation work is presumably underway. As you may recall, in May the developer told the Brooklyn Paper that current market conditions were making it necessary to eliminate the affordable housing component of the project and to break it up into four (more easily financed) separate buildings.
UPDATE: Per a request in the comments thread, we called Red Apple HQ to find out more about the ultimate configuration of the project. Turns out that the tower is still slated for its original location at the western end of the site; if you look at the rendering here, you can see how the non-tower part of the building is already designed in three natural sections. All that’s happening is that these three sections plus the tower are being financed as four different projects. Nothing’s happening to the scale or layout.
UPDATE II: See the permit for the first new, nine-story building issued on June 23 here.
Catsimatidis Tweaks Blueprints for Myrtle [Brownstoner] GMAP P*Shark DOB
Development Watch: Catsimatidis Ready to Go on Myrtle? [Brownstoner]
Brooklynlove,
From that far back, does anyone really have a ‘lock’ on views? With all the development going on, it is really impossible (or unlikely) that some other tall building will come up between Oro and the river?
Dear Brownstoner,
This is 12.04pm. Thanks very much for digging into this for us – it is very much appreicated.
….so on that schedule we’re looking at completion of all the buildings by March 2013 (or thereabouts)?
Great. So the estimation completion date for the tower is….7-8 years?!?!!??
it’s looking like oro 1 and 2 are going to have the lock on marquee views from this bunch of towers. suddenly those oro 3 brs look more attractive.
i tried posting something earlier with info but apparently it was lost in the abyss.
There will indeed be 4 separate buildings on the site. The city has “re-mapped” 2 streets that will separate the first 3 buildings. Yes, the re-mapped “streets” will be very short and of virtually no use, except to separate the buildings. The eastern-most building now under construction will take 14 months to complete. The next building (to the west) will not begin construction until the first is finished. The 3rd won’t begin until the second is finished, etc. Note that this first building will include a much-needed grocery store. The second building will include a drug store. I am surprised that none of your readers have shared this information with you to date.
Whoever buys into this “project” has some beautiful background scenery.
There’s an update above. Tower is still planned. Unsurprising.
Yeah, because on the phone people never lie about themselves.
Call and say you are whoever you want to be to get the answers. Sometimes it works, sometimes it doesn’t.