Revealed: Phipps Houses’ East New York resi project
Developer plans to eventually build 1,200 units at 3301 Atlantic Avenue
UPDATED, July 5, 2:21 p.m.: Phipps Houses [TRDataCustom] has revealed a rendering for its 403-unit affordable housing development in East New York.
The building at 3301 Atlantic Avenue is designed by Dattner Architects, New York YIMBY reported. The project, if it goes ahead, will feature 403 affordable rental apartments. The building will span 415,476 square feet across 15 stories in total, with about 21,000 square feet set aside for ground-floor retail, according to the website.
Phipps Houses filed plans for the building in January, and the nonprofit housing developer told The Real Deal the project is the first step in a plan to build around 1,200 units on the site.
The property falls within the city’s rezoning plan for East New York, Cypress Hills and Ocean Hill, which was approved in April 2016. Phipps paid $36 million for the site in 2015. [NY YIMBY] — Miriam Hall
Correction: An earlier version of this story stated Phipps paid $38 million for the property. It paid $36 million.