In the Downtown Brooklyn core, nearly 1000 rental units are proposed in and around the MetroTech complex. That's in addition to a bunch of small buildings and affordable housing projects a few blocks south on Schermerhorn Street, and be@Schermerhorn, which is a 26 or 27-story condo that may or may not remain condo.
The Clarett Group and Equity Residential are each involved with 400-plus unit rental projects in this area. Clarett's project is a 51-story, 514-foot, 491-unit, luxury rental apartment building located midblock on a 15,000 or so SF site at 111 Lawrence Street between Willoughby Street and Myrtle Avenue. To be known as the 'Brooklyner' the building was recently topped off and final completion is anticipated in early 2010.
The Brooklyn Paper reported that maybe there is a race for the new tallest tower in Brooklyn. While Flatbush Avenue was rezoned to permit 400-foot towers, there are now two planned for the downtown core in excess of 500 feet.
In July, AvalonBay filed plans for an even taller structure, on Willoughby between Bridge and Duffield Streets. At 57-stories, and 596-feet, (with 861 rental apartments), this building would top the 512-foot Williamsburgh Savings Bank by 84 feet. That building had been the borough's tallest since 1929 and is now known by its address of One Hanson Place. It was recently converted to condos by the Dermot Company and Magic Johnson's Canyon Johnson Urban Funds,
Avalon Bay is already building a 42-story rental building on Flatbush and Myrtle Avenues, the Avalon Fort Greene and has been acquiring the land for the Willoughby project since last Fall.
Avalon claims they may begin building next year. I think the Downtown Brooklyn sub-market is over-saturated with product, although with a 24-month build time, they wouldn't be done until 2012, so it is actually plausible that they go ahead. I expect, though, that they'll wait till they see what happens at Avalon Fort Greene.
The Clarett Group and Equity Residential are each involved with 400-plus unit rental projects in this area. Clarett's project is a 51-story, 514-foot, 491-unit, luxury rental apartment building located midblock on a 15,000 or so SF site at 111 Lawrence Street between Willoughby Street and Myrtle Avenue. To be known as the 'Brooklyner' the building was recently topped off and final completion is anticipated in early 2010.
The Brooklyn Paper reported that maybe there is a race for the new tallest tower in Brooklyn. While Flatbush Avenue was rezoned to permit 400-foot towers, there are now two planned for the downtown core in excess of 500 feet.
In July, AvalonBay filed plans for an even taller structure, on Willoughby between Bridge and Duffield Streets. At 57-stories, and 596-feet, (with 861 rental apartments), this building would top the 512-foot Williamsburgh Savings Bank by 84 feet. That building had been the borough's tallest since 1929 and is now known by its address of One Hanson Place. It was recently converted to condos by the Dermot Company and Magic Johnson's Canyon Johnson Urban Funds,
Avalon Bay is already building a 42-story rental building on Flatbush and Myrtle Avenues, the Avalon Fort Greene and has been acquiring the land for the Willoughby project since last Fall.
Avalon claims they may begin building next year. I think the Downtown Brooklyn sub-market is over-saturated with product, although with a 24-month build time, they wouldn't be done until 2012, so it is actually plausible that they go ahead. I expect, though, that they'll wait till they see what happens at Avalon Fort Greene.
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