BFC Partners is planning to bring 103 apartments to Bedford-Stuyvesant.
The project from the affordable housing developer and the nonprofit FAC Homeownership Development Fund Corporation would be located at 1618 Fulton Street and span about 84,600 square feet, according to plans filed Friday with the Department of Buildings. The two companies are redeveloping a strip of seven parcels along the street, and the new building will replace several vacant lots and commercial buildings that span from 1612 to 1624 Fulton Street.
Residential units will occupy 71,464 square feet of the building, while the rest of the project will be divided between commercial and community space. BFC Partners worked out a deal with Council member Robert Cornegy to divide a portion of their retail space into four 1,000 square foot sections, making it better suited to smaller stores. Cornegy plans to introduce legislation before the end of the year that would provide incentives for developers to give retailers space at below market rents.
Juan Barahona of BFC did not respond to a request for comment on Friday but told The Real Deal in an earlier interview that 45 percent of the apartments would be affordable for households earning up to 130 percent of AMI, 30 percent would be affordable for households earning up to 80 percent of AMI and 25 percent would be affordable for households earning up to 60 percent of AMI.
Previous plans for 1618-1620 Fulton Street were for a 54-unit building designed by RKTB Architects, but those appear to have been changed.
Other projects coming to Bed-Stuy include Zelig Weiss’ 47-unit building at 629-633 Marcy Avenue and Brookland Capital’s cluster of five seven-unit apartment buildings on Madison Street.