NY Sun: Downtown Brooklyn Is Booming
There’s a ton of information in today’s NY Sun article “Downtown Brooklyn Is Booming” — too much to fully cover in one blog post, so we’re going to focus on some of the things that we haven’t touched on recently or are news to us. Big picture: More than 5,000 condominium units and 2,000 hotel…
There’s a ton of information in today’s NY Sun article “Downtown Brooklyn Is Booming” — too much to fully cover in one blog post, so we’re going to focus on some of the things that we haven’t touched on recently or are news to us. Big picture: More than 5,000 condominium units and 2,000 hotel rooms are in the pipeline. Newsflash #1 is that The Smith (rendered at right), Leviev Boymelgreen’s project at Smith and Atlantic that seems to be dragging on forever, will have more hotel rooms(93) than condos (50). Forest City Ratner has more than just Atlantic Yards on its plate, with a one million-square-foot mixed use tower at 300 Jay Street planned and another 800,000-square-foot residential complex contemplated on the former site of Brooklyn Technical High School.
In hotel news, McSam Hotels will begin construction later this year of 200 moderately-priced rooms at Nevins and Scherhorn streets; the Lam Group is already building the adjacent 300-room Sheraton and 200-room Starwood Aloft on Duffield near Willoughby.
The Flatbush Avenue building boom, started by the Oro Condominium, will continue as well: AvalonBay will start on a 42-story residential tower on the southern portion of the block bounded by Gold Street, Flatbush Avenue, Myrtle Avenue, and Prince Street while nearby the North Development Group will kick off a 21-story condominium project at 85 Flatbush Extension.
“The demonstrated high demand for Brooklyn defines it as the leading destination for the young urban professional and growing families looking for affordable, high-quality housing, driving the absorption of new condominium development,” the president of Metropolitan Valuation Services, Steve Schleider, said.
Downtown Brooklyn Is Booming [NY Sun]
11:07,
Did you read http://www.youdovoodoo.com/80sbubble.htm, http://www.stock-market-crash.net & http://www.rgemonitor.com/blog/roubini/180573 (sub-prime’s inside secret)?
I didn’t read this thread’s article yet but I will. I’ll be looking for the source of funding for all of these projects. ANYBODY can physically spend time in Brooklyn (already owning, renting or visiting). But can EVERYBODY keep their jobs or net worth to spend the money it takes to buy and/or “hold” here? Are you ignoring the cracks in the global markets? Do you believe EVERYTHING the mainstream media and Benny B. tells you? They’re sales people for the Feds/ruling class – wake up!
10:18, 12:40 & 1:34 — the full rumor is that FCRC will build a new Tech and as part of the deal, acquire the old high school for redevelopment (not tear down) to fulfill some of it’s AY promises. The football field is secure.
12:53 — Yes, the old PS9 was converted to condominiums by FCRC for tenants relocated as part of the MetroTech development. Here’s how you buy a school: work out a deal with EDC; go through ULURP
12:06 — The City job center is also a development site so you’re concern, if that is what it was, is unwarrented. You live a block away and don’t know this? You’re not a troll, are you?
10:22 & 1:29 — The recently released Citywide Statement of Needs for Facilities for 2008 & 2009 states that the Department of Correction plans to add 960 beds, for a total of 1719, and up to 112,000 square feet of retail. The latter is presumedly to help make the doubling of the jail acceptable to the community.
10:53 — The only public transportation improvements currently planned is a connection between the Jay Street-Borough Hall ACF station to the Lawrence Street RM station, a project that does little IMO for the people downtown.
Excuse me, Fulton/Clermont.
Maybe they mean B Tech’s football field on Fulton/Vanderbilt?
Does anyone know what IS happening with Brooklyn House of Detention? Are they really going to expand it? Doesn’t this seem odd considering all of the other efforts to re-devlop downtown?
I am LOVING all this development. Give downtown 10 years and it will be a cohesive place for once.
The only thing that bothers me is Avalon Bay, who are known to throw up crappy buildings.
Otherwise, Piano’s tower and the Albee Sq tower could break through our self-imposed 512 foot height limit!
That would be sad if Tech was being relocated to Metrotech.
The old PS 9 on vanderbilt and sterling is now a condo and I hear it’s also owned by FCR.
how does one buy a school?
is brooklyn tech being torn down someone has asked?
“can’t wait to see how those high end clients will react to people standing on line for their checks.”
it’s comments like these when i wonder why you have decided to live in new york city, much less any city for that matter.
i would imagine the people will react the same as they do in hells kitchen, chelsea, east village, columbus circle area, upper west side, metpacking district…all areas that also have a welfare center in addition to multimillion dollar condos.
that’s the beauty of living in a city. if you want more starbucks, walmarts, gaps, etc, please do us all a favor and make room for those who don’t mind being integrated with others of varying socioeconomic backgrounds.