Although many young renters are moving from Williamsburg and Bushwick into the more working-class neighborhood of Ridgewood, Queens, as The Real Deal reported in its August issue, Bushwick still remains active with residential construction projects seeking young renters, according to the New York Times.
For example, the Read Property Group has proposed to develop several rental buildings on a mostly vacant site where the Rheingold Brewery used to be. The project would add 977 apartments, retail space and a park to the area near Woodhull Medical Center.
Also, developer and Steiner Studios chairman Douglas Steiner plans to convert a former Conway store at 815 Broadway into 40 rental units.
In addition, Colony 1209, a 120-apartment rental building aimed at 20-somethings off the J train on DeKalb Avenue is expected to open this fall. Among the amenities promised at Colony 1209 include indoor bocce courts and a vintage arcade featuring games like Donkey Kong in order to deliberately entice younger renters. [NYT] – James Comtois