The Landmarks Preservation Commission, on Tuesday, issued a decision that paves the way for construction of Brooklyn’s new tallest tower, which will be located at 340 Flatbush Avenue Extension, on the same block as Junior’s.
The New York City Economic Development Corporation (NYCEDC), with the Department of Education and the Department of Housing Preservation & Development (HPD), is preparing to launch a Request for Proposals (RFP) for the L-shaped development site at 131 Livingston Street (a.k.a. 409 Red Hook Lane), in Downtown Brooklyn. The property would be ground-leased to a development team for 99 years and redeveloped, according to the Brooklyn Paper. The site could accommodate a mix of residential units, office space or retail, though the city will likely require the winning team to build a 500- to 700-seat public school. The lot is currently occupied by a six-story office building that houses various city-level government agencies, and it will likely end up getting demolished.
Last summer, the Times reported that Extell had acquired the third and final piece of City Point, a sprawling mixed-use development in Downtown Brooklyn. The developer rolled out initial renderings for their 59-story tower at 138 Willoughby Street in January, and now we have a better look at what will eventually be one of Brooklyn’s tallest towers.
In August of 2015, news broke that Tishman Speyer was acquiring five stories of Macy’s nine-story commercial building at 422 Fulton Street, along with the parking garage at 11 Hoyt Street/217 Livingston Street, in Downtown Brooklyn, for $170 million. Macy’s is expected to consolidate their retail space into 278,000 square feet on the lower half of the building (basement through fourth floors). Speyer would then expand and convert the upper portion into 10 stories of office space. The Wall Street Journal now has the first glimpse of the renovations, which Speyer has agreed to fund (as part of the deal), that will go into Macy’s portion of the building. Macy’s and FRCH Design Worldwide are designing their space. Work is expected to begin imminently, and the renovation is expected to be complete in 2019. It was recently reported that Speyer would be utilizing the EB-5 program to raise roughly $60 million in financing.
Back in July of 2014, YIMBY reported on applications for TF Cornerstone’s planned 25-story, 714-unit mixed-use building at 300 Livingston Street (a.k.a. 33 Bond Street), in Downtown Brooklyn. Now, Commercial Observer has the latest details on the 734,312-square-foot project. Since our last report, the developer has secured $250 million in construction financing. The new building will also have a larger retail component than reported earlier. There will be 55,000 square feet of retail across the ground and cellar levels, and grocers and gyms are already in negotiations for the space. The residential units should average 790 square feet apiece, and 20 percent of them, or 143 apartments, will rent at below market-rates. Demolition of the site’s 49,942-square-foot five-story parking garage wrapped up in early 2015. Handel Architects is behind the design. Completion is expected in 2017.