New Residential Tower Proposed for Downtown Brooklyn
Mayor Eric Adams has announced an ambitious plan for the construction of a residential tower reaching 840 feet at the site of an existing office building located at 395 Flatbush Avenue Extension in Downtown Brooklyn. If approved, this tower would stand as the second-tallest building in the borough.
Project Overview
The project is led by a partnership between Rabina and Park Tower Group. The proposal entails demolishing parts of an outdated seven-story office structure and erecting a new tower that will feature over 1,200 residential units. Notably, 300 to 360 of these units are designated as permanently affordable for residents earning at or below 80 percent of the area median income, according to a spokesperson for the development team.
Ground Lease and Zoning Modifications
The site, currently under a ground lease with the developers valid until February 2072, requires modifications to facilitate the project. The team is pursuing an upzoning through the Uniform Land Use Review Procedure (ULURP), which aims to enhance affordability in the housing mix. A public scoping hearing is scheduled for June 5 to discuss the project.
Utilizing City Initiatives
In aligning with the city’s ambitious housing strategy, the project leverages Mayor Adams’s “City of Yes for Housing Opportunity” rezoning initiative. It also plans to utilize New York State’s 485x tax incentive to support its construction.
“What we’re seeing here is not only the future of housing, it’s the proof that our housing strategy works,” Adams stated during the announcement made at a The Real Deal forum. He further emphasized that the development is crucial for maximally utilizing city-owned sites without the need for city capital subsidies.
Infrastructure and Community Benefits
The proposed development will not only transform residential living in the area but also enhance public infrastructure. Planned improvements include:
- A 10,000 square foot green space
- A new 4,750 square foot landscaped public plaza with seating areas
- Upgrades for the public entrance of the DeKalb Avenue subway station
- Expanded sidewalks along Flatbush Avenue
Additionally, the project will incorporate 66,000 square feet of retail space alongside 75,000 square feet of commercial space, providing both residential and economic growth for the neighborhood.
Revitalizing the Area
The redevelopment of the 53-year-old office building, often referred to as “one of the biggest eyesores in Downtown Brooklyn,” aims to revitalize a crucial intersection. Josh Rabina, CEO of Rabina, remarked, “Replacing the dark and outdated office building…will breathe new life into one of the most important intersections in Downtown Brooklyn.” He further stated, “395 Flatbush will respond to the city’s urgent housing needs while anticipating and supporting future growth by overhauling the public realm for the thousands of people that pass through every day.”
Potential Impact on Brooklyn’s Skyline
Should the project receive the necessary approvals, it will stand as the second-tallest building in Brooklyn, following the 1,066-foot tall Brooklyn Tower located just a block away at 55 Fleet Street.
For updates or further details on this project, interested parties may contact Isabelle Durso.