Mayor Bill de Blasio joined local officials and community leaders to break ground on a new 298-unit, 100 percent affordable building at Pacific Park Brooklyn.
The building, 535 Carlton Avenue, is being developed by Greenland Forest City Partners and is the second affordable housing project built at Pacific Park Brooklyn, formerly known as Atlantic Yards. A third building, also 100 percent affordable and negotiated by the de Blasio administration will break ground in 2015.
The groundbreaking reflects a commitment Greenland Forest City Partners made with Governor Cuomo, Mayor de Blasio and local community groups in June 2014 to build 2,250 affordable apartments by 2025.
“Last summer, we made a promise to this community that we would jumpstart affordable housing here and get shovels in the ground by the end of the year. Today, we’re delivering. We intend to take every opportunity, push every partner, and stretch every dollar further as we take on this affordability crisis,” said Mayor Bill de Blasio.
“We are excited to bring our international expertise, efficiency and dedication to world-class design to this exciting project. Today’s ceremony marks an important first step, which will help shape the landscape of New York City for years to come. We are grateful to our partners at the state and the city for their vital contribution to this project, and to our partners at Forest City Ratner for their work to bring this Pacific Park Brooklyn to fruition,” said Zhang Yuliang, Chairman of Greenland Group Co.
Bruce Ratner, executive chairman of Forest City Ratner Companies, said, “We sought a development partner because we hoped to accelerate the construction timeline for the project. In an incredibly short period of time, we’ve been able to do that, because of the expertise and commitment brought by a group of extraordinarily talented and driven professionals.”
The first building at Pacific Park, B2, broke ground in 2012 and has 50 percent market-rate apartments, 30 percent middle-income and 20 percent low-income units.
535 Carlton is 100 percent affordable, with 50 percent middle-income, 20 percent moderate and 30 percent low-income units. More than a third of apartments at 535 Carlton Avenue are sized for families.
Residents will be selected through a lottery system overseen by the New York City Housing Development Corporation.
The New York City Housing Development Corporation is providing a $73 million tax-exempt first mortgage for the building, funded by Citi Community Capital. HDC is also contributing $11.75 million in subsidy financing.
Pacific Park Brooklyn is a state-regulated development established by a General Project Plan adopted by the Empire State Development (ESD) Board of Directors in 2006 and governed by ESD. Pacific Park Brooklyn will include 6,430 units of housing, more than one-third of which will be affordable.
Designed by COOKFOX, 535 Carlton will become an extension of the surrounding neighborhood of Prospect Heights.
Incorporating ideas of biophilia and through a series of terraces and setbacks, the building creates a transition from the sidewalk and pedestrian scale of Prospect Heights to create an appropriate “bookend” that frames the new public park.
The rear of the building will open onto a new, eight acre public open space designed by Thomas Balsley Associates.
