Brooklyn


Rendering of Atlantic Chestnut 1 Phase

Phipps Houses Secures $217 Million Financing for Phase 1 of Atlantic Chestnut Development in East New York, Brooklyn

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.

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9 DeKalb Avenue Becomes Tallest Structure in Brooklyn

9 DeKalb Avenue has passed a milestone in its way to becoming the first supertall skyscraper in the outer boroughs. The 93-story residential tower recently surpassed the 720-foot roof height of Brooklyn Point, giving it the title of the tallest structure in Brooklyn. Designed by SHoP Architects and developed by JDS, 9 DeKalb Avenue will stand 1,066 feet tall and yield 450 rental apartments and 150 condominiums. The site is bound by Flatbush Avenue Extension to the northeast, Fleet Street to the northwest, the landmark Dime Savings Bank of Brooklyn to the southwest, and DeKalb Avenue to the south.

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