It’s been a year and a half since Cornell Realty filed plans for a massive four-building, 208-unit development at 902 Franklin Avenue in southern Crown Heights. Now, Cornell has nearly finished demolishing the series of squat industrial buildings on the site between Crown and Montgomery streets, which used to be a commercial laundry business.
902 Franklin Avenue
Crown Heights has some of the fastest rising rents in all of Brooklyn. It’s gentrifying at a rate that merited two New York Times real estate section features in the last year, neither of which could resist mentioning riots that occurred 24 years ago. At the same time, new development is sweeping across the area, concentrated at the western edge between Washington and Nostrand Avenues.
The south side of Crown Heights, below Eastern Parkway, hasn’t been getting as much attention from builders as the trendier north side, but that may be about to change. Earlier today, a permit application was…