Brooklyn is set to stand out a little more in New York City. The New York City Council has approved plans to build a 72-story mixed-use tower that will include a significant number of new residential units in Downtown Brooklyn.
Known as 395 Flatbush Ave., the project developed by Rabina and Park Tower Group is set to deliver roughly 1,263 residences, with 325 affordable units.
According to reporting from the New York Post, 395 Flatbush would be the second-tallest building in Brooklyn. The only taller structure in the borough is the nearby 93-story Brooklyn Tower.
The planned mixed-use tower will also include 75,000 square feet of community space or office and 66,000 square feet of retail. Currently, 395 Flatbush hosts ground-floor retail, including a McDonald's, a 7-Eleven and a Verizon call center.
"395 Flatbush is poised to transform one of the most important blocks in Brooklyn with a state-of-the-art mixed-use development that is responsive to the City's urgent need for new housing at all income levels, including homes serving low- and very low-income populations," Josh Rabina, president and CEO of Rabina, said in a shared statement to the Post.
The developers plan to start construction at the site in 2028.
Another big mixed-use project is taking place in Gowanus, Brooklyn: 175 Third St., which will include one million square feet of space with 1,000 residential units. JLL, which arranged $174.5 million in financing on behalf of the developers Charney Companies and Tavros Capital last spring, said it would be the largest building in all of Gowanus once finished, with construction slated to begin in the middle of this year.
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