Non-profit housing developer Phipps Houses closed on $217 million in construction financing for the first phase of Atlantic Chestnut, a massive three-phase development in Brooklyn. When completed, Atlantic Chestnut will bring 1,200 affordable housing units to the East New York neighborhood under the 2016 East New York Rezoning. With Dattner Architects handling design, the Atlantic Chestnut development will consist of three mid-rise apartment buildings featuring affordable apartments, 60,000 square feet of commercial and community facility space, attended parking for 200 cars, and residential amenities comprising of a gym, children’s playroom, a lounge, a party room, and landscaped courtyards and roof deck. The project is being built by Monadnock Construction.
East New York Rezoning
A new affordable housing project at 315 Linwood Street in East New York, Brooklyn, recently opened its doors to residents. Known as Linwood Park Apartments, the ten-story building contains 100 units of mixed-income housing, residential amenities, and supportive facilities for low-income and formerly homeless residents.
Proposals under review by the New York City Planning Commission could spur the development of a 2.4-million-square-foot complex near the East New York waterfront in Brooklyn. From developer Innovative Urban Living and architect PAU, the project would include 13 new buildings with varying heights of two to 17 stories.
Plans have been announced for 274 affordable housing units as part of a project entitled Chestnut Commons, in East New York. A rezoning shift pushed by the East New York Neighborhood Plan is mostly responsible for the site’s potential. The building will be affordable to households earning up to $51,540, with more than 80 units for households earning up to $25,770, including a set-aside for formerly homeless families and individuals.
With East New York’s rezoning now finalized, YIMBY recently revealed one of the first big developments coming to the neighborhood, at 1427-1429 Loring Avenue. Permits were also recently filed for a new complex at 3301 Atlantic Avenue/250 Euclid Avenue, at the end of January. Now, we have the first rendering for that building as well, which is being designed by Dattner Architects.