Downtown Brooklyn Will Double New Resi Units

Downtown Brooklyn is nowhere near through adding residential towers. A report by the Downtown Brooklyn Partnership says 12,769 new residential units are coming. That’s more than double the number built since a rezoning in 2004 eased limits on new construction. That's $6.5B of mixed-use and residential projects either going up now or in the next few years. The mix looks like it’ll be about 80% rental with over 25% of units defined as affordable. (Intrigued? Check out Four Big Affordable Housing Ideas.) Nine hotels totaling 1,000 new rooms are also on the way. The big loser here? Sunscreen sales, as everyone will be spending more time in the shadows of high-rises.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

'We Don't Have To Worry About The Future': Chicago Geothermal Apartment Tower Takes Shape

The Governor Races And Referendums Where Housing Is On The Ballot

Cresa Taps Nathan Knowles As Atlanta Market Leader

Apollo To Buy Majority Stake In $2B UDR Portfolio

Developer Of $3.8B Atlanta Project Discloses $19M Accounting Error

Foreclosure Auction Set For Loop Office-To-Residential Conversion

Inter Miami Stadium Subcontractors Sue Over Millions In Unpaid Work

Meet The Women Pushing Boundaries In UK Development

Related Lands $750M Loan To Keep 'Broadway's Bedroom' Affordable: The N.Y. Deal Sheet

Elecor, Formerly Paramount Group, Gains New Muscle With Rithm In Its Corner

Apartment Operators Are Rethinking The Amenity Arms Race

Blackstone's $1.3B Multifamily Loan Hits Special Servicing After Missing Maturity