Alloy has a new development partner at 80 Flatbush megaproject

Project will include almost 900 apartments

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
A rendering of 165 Broome Street (Credit: Handel Architects)
Nonprofit plans affordable housing development near Essex Crossing
Nonprofit plans affordable housing development near Essex Crossing
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
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
East Hampton Town Supervisor Peter Van Scoyoc and 395 Pantigo Road in East Hampton (EHamptonNY.gov, Zillow, iStock)
East Hampton Town officials vow affordable housing action
East Hampton Town officials vow affordable housing action
Donald Capoccia, managing principal, BFC Partners along with a rendering of 475 Bay Street in Stapleton, Staten Island (BFC Partners/Photo Illustration by Steven Dilakian for The Real Deal)
BFC Partners closes on Staten Island dev site
BFC Partners closes on Staten Island dev site
An AutoCamps outpost (AutoCamps)
Catskills resorts ramping up for 2022
Catskills resorts ramping up for 2022
Developers break ground on 500-unit LIC project with $220M loan
Developers break ground on 500-unit LIC project with $220M loan
Developers break ground on 500-unit LIC project with $220M loan
David Arfin, co-founder & ceo, NineDot Energy; Kewsong Lee, ceo, Carlyle Group (Carlyle Group, NineDot Energy, iStock)
Carlyle invested $100M in electricity, powering massive battery storage developments
Carlyle invested $100M in electricity, powering massive battery storage developments
Renderings of 80 South Street (Oceanwide Holdings, iStock)
Chinese developer defaults on $175M loan for languishing Manhattan supertall site
Chinese developer defaults on $175M loan for languishing Manhattan supertall site
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...