Extell Development Company has announced the successful acquisition of $530 million in financing for Brooklyn Point, its first development in the borough. When complete, the 720-foot-tall structure will become the tallest residential tower in Brooklyn, surpassing The Hub, located just to its south.
Last but not least in this week’s updates on the city’s Brownsville plan is the first look at Livonia 4, a mixed-use, multi-site development comprised of a series of adjacent parcels in Brownsville, Brooklyn. Construction is expected to begin this year and the project is the third new development announced as part of “The Brownsville Plan,” with design by Magnusson Architecture and Planning. The $1 billion initiative is expected to yield over 2,500 affordable homes, infrastructure upgrades, arts and cultural facilities, and new community service programs.
Glenmore Manor Apartments is the second residential property announced in updates to the city’s $1 billion infrastructure and affordable housing plan designed to reinvigorate Brownsville, Brooklyn. The apartments will occupy an assemblage of land at the intersection of Christopher Avenue and Glenmore Avenue, and Think! Architecture + Design is the project architect.
The Brownsville Arts Center and Apartments will become the first of three developments included in a $1 billion infrastructure and affordable housing plan to reshape and invigorate the Brownsville, Brooklyn community. The site is on Rockaway Avenue and Chester Street.
In the heart of downtown Brooklyn, just off of Flatbush Avenue and adjacent to the City Point complex, One Willoughby Square, also known as 1WSQ or 420 Albee Square, is now on track to become the tallest Class A office tower in Brooklyn. A $235 million construction loan has now been approved and secured from Otera Capital, a Canadian real estate lending company. JEMB is the developer of the upcoming office project.