The William Macklowe Company and Senlac Ridge Partners have secured $142.9 million to complete a new mixed-use complex in Park Slope, Brooklyn. Located at 120 Fifth Avenue, the development will comprise two individual buildings with 180 rental units, amenity spaces, a CVS Pharmacy, and the borough’s first Lidl Supermarket.
Avery Hall Investments has submitted pre-filing paperwork for a large mixed-use building five blocks away from Atlantic Avenue-Barclays Center. The structure would be yet another modern addition to the rapidly developing neighborhood, and was originally known as 120 Fifth Avenue, though the DOB applications now list it at 680 Baltic Street.
After months of negotiations with the community, developer Avery Hall Investments has agreed to amendments to its two-building, mixed-use development planned at 120 Fifth Avenue, located on the corner of Baltic Street in Park Slope. When the plans were initially presented in February, YIMBY reported that the 196,000-square-foot project would include 165 residential units and 52,000 square feet of retail. Twenty-five percent, or 41 units, would rent at below-market rates through a lottery and 7,500 square feet of the retail space would be designated for a grocery store.
During a raucous and packed public meeting on Tuesday night, developer Avery Hall Investments laid out their plans for a seven-story apartment building with retail and a grocery store, which will replace a Key Food at 120 Fifth Avenue in Park Slope.
Avery Hall Investments is in contract to purchase the grocery store at 120 Fifth Avenue, in northern Park Slope, according to DNAinfo, and plans to close on the site in the second half of 2016. The developer is planning a mixed-use building with residential units and commercial space, although details have yet to be hammered out. A Key Food currently occupies the site, which is reportedly one of the largest development sites in the neighborhood.