New Brownsville School, Bed-Stuy Condo Coming Soon

Today the Eagle has a story about how two projects spearheaded by the Carver Community Development Corporation in Brownsville and Bedford-Stuyvesant that involve a school and a condo are close to being realized. The first, the rehabilitation of the former Loew’s Pitkin Theater at 1501 Pitkin Avenue in Brownsville, is being turned into a school and will also have retail. It is slated to be finished next month, and the Eagle says it’s “the first major expansion of retail development on Pitkin Avenue in over 40 years.” The building will house the Brownsville Ascend Charter School. The theater had been closed for more than four decades and was in disrepair. Meanwhile, Carver reports that a condo called the Bradford, at 1560 Fulton Street/43 Albany Avenue in Bedford-Stuyvesant, is scheduled to be finished this summer and will have 96 affordable apartments plus retail. (We have been following its development progress closely.) The article says the “brand new six-story, 137,537-square-foot mixed-use residential building that is being constructed on formerly city-owned property will bring the first affordable housing to the area in 15 years.” Carver’s many development partners for the Loew’s rehab include Goldman Sachs, Seedco Financial, Empowerment Reinvestment Fund, Nonprofit Finance Fund and The Rose Urban Green Fund, while the development corp partnered with the Bedford-Stuyvesant Restoration Corp. and Goldman Sachs Urban Investing Group on the Bradford.
Community Foundation Invests in 2 Brooklyn Real Estate Projects [Eagle]