Work advances on 63-story One Third Avenue tower

DOWNTOWN BROOKLYN — Foundation work is underway on One Third Avenue, the 63-story, 725-foot-tall second phase of Alloy Development’s Alloy Block project, according to NY YIMBY. Crews have begun installing deep rebar supports on the cleared site between State Street and Lafayette Avenue, opposite the completed first phase at 505 State St.

The mixed-use tower will deliver 583 apartments, 153 of them affordable, alongside 60,000 square feet of office space and 30,000 square feet of retail space. Designed to meet Passive House energy-efficiency standards, the building is set to be the world’s tallest of its kind, with features including an airtight building envelope, filtered air and shared energy systems between residential and office uses.

The project incorporates two historic former school buildings at its base and is backed by $535 million in recently closed construction financing. Completion is expected in 2028.

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