518-Unit Development Coming To Crown Heights. Here Are Details.
New documents filed with the city give a glimpse into Cornell Realty’s planned 518-unit residential development at 40 Crown St. and 931 Carroll St. in Crown Heights.
The documents were filed as part of the process of getting a rezoning to allow the project as envisioned, NY Yimby reports. Less ambitious plans first filed in 2014 would allow the developments to go forward without a rezoning.
According to the filings, the building on Crown Street calls for a total of 428k SF, with 390 apartments, 150 of which would be affordable, with 16k SF of retail and 114 parking spaces. The Carroll Street property has new plans that call for a 134k SF, 16-story building with 128 residential units, of which 34 would be affordable. Plans include a 37-car parking garage.
The plans also include a third site that Cornell doesn’t currently own, around the corner at Carroll and Franklin Avenue. That site would also benefit from being upzoned.
The neighborhood is becoming a major hot spot of ground-up development with new hotel projects on the way and a major repositioning of a historic armory, although that recently hit a snag with community opposition.
Cornell picked up the site on Crown Street for $14.5M and the site on Carroll Street for $2.5M in 2014. [NYY]
