Alloy has a new development partner at 80 Flatbush megaproject

Project will include almost 900 apartments

TRD New York /
Mar.March 26, 2018 12:30 PM

Rendering of 80 Flatbush Avenue

Alloy Development has tapped a local nonprofit to spearhead the affordable housing component of its Downtown Brooklyn megaproject.

Jared Della Valle

Fifth Avenue Committee, a community development corporation based in Brooklyn, will own and develop the roughly 200 affordable housing units in Alloy’s 80 Flatbush project, the developer announced on Monday. The project will include almost 900 apartments overall, along with 15,000 square feet of cultural space, 200,000 square feet of office space, 40,000 square feet of retail space and two new public schools.

Rendering of 80 Flatbush Avenue

Alloy is developing the five-building project jointly with the New York City Educational Construction Fund. They will construct it in two phases, the first of which will include the two schools and the second of which will include the affordable housing and cultural facility. Politico first reported the news Monday.

Fifth Avenue Committee was founded in 1978 and has built or renovated 900 affordable housing units so far, with 1,200 more units in development.

One building in the project will stand 986 feet tall, making it one of the tallest in Brooklyn. Alloy has made multiple changes to the project based on community feedback, including overhauling the Phase I tower design and eliminating parking.

Construction on the first phase is expected to be finished by 2022, while construction on the second phase is pegged to be done by 2025.


Related Articles

arrow_forward_ios
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

205 Park Avenue (Credit: Google Maps)

Developer files plans for mixed-use project facing BQE

From left: The Blau and Berg Company's Karine Blanc, TD and Partners' Nana Duncan and Lemor Development Group's Kenneth Morrison (Credit: Blauberg, TD+Partners and Lemor)

Black developers say partnerships aren’t always equal

85 4th Avenue in Brooklyn (Credit: Google Maps)

New details of Boerum Hill’s next big project unveiled

TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

Assemblyman David Chiu and Gov. Gavin Newsom (Credit: Wikipedia and iStock)

California passes landmark rent control law

Inwood has stayed affordable for a remarkably long time. That could soon change. (Credit: Wikipedia)

Inwood braces for gentrification

Rent reform is propelling a new wave of New York and California investors to Miami (Credit: iStock)

Rent reform in New York, California propels new wave of multifamily investors to Miami

arrow_forward_ios