Brooklyn Trying to Catch Up on Affordable Housing

Plans are being proposed to tear down a Chase Bank building in Brighton Beach at 1002 Brighton Beach Avenue to make way for a taller apartment building that would also face Coney Island Beach Avenue. The proposal is for the complex to be multi-use; in addition to apartments, the plans that have been filed reveal indications for commercial space and office space. The complex would also offer affordable housing units. 

What Are the Details of the Project?

According to plans, the building will be 14 stories high and will include 156 apartments. 

Platinum Realty Associate are developing the project, and the developer plans to have 39 to 47 affordable housing units within the complex under the Mandatory Inclusionary Housing program in New York. 

For a family of three, each unit would cost  $38,440 to $133,120. Under the building, there are plans for parking with 110 parking spots and room for bicycles. The ground floor would be dedicated to retail space, with entrances from both Coney Island Beach Avenue and Brighton Beach Avenue, and the second floor would be dedicated to offices. The second-floor design includes a glass facade. 

What Happens Next with the Project?

Since plans have just been introduced, there are several processes that the developers must go through to get construction underway. This particular project requires rezoning through the city, and this process is known as ULURP, or Uniform Land Use Review Procedure, which takes roughly seven months to complete. In December 2020, Platinum Realty Associates submitted an environmental review and a land-use rezoning application to City Planning, but these still must undergo the public review process. As of now, the property is zoned as R6/C1-2 and R7-1/C2-4. The developers intend to change the zoning to C4-4D zoning. This type of zoning allows for a building that is bigger and taller. Also, the property is in a flood zone, so the developers must undertake flood-proofing measures underground, which was included in the environmental report.

Why Is This Project Important?

While there are similar apartment buildings along Coney Island Beach Avenue and Brighton Beach Avenue, Brooklyn lags behind the other boroughs for affordable housing units. This particular complex will add affordable housing units for families that need them. 

If plans and zoning are approved, the developers hope to open the complex in 2024. 

For more information on this and other projects, visit our website.

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