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<\/p>\nL+M Development Partners and SMJ Development are looking to build one of Brooklyn\u2019s largest mixed-use projects in recent years, potentially bringing more than 2,000 apartments to Bedford-Stuyvesant.<\/p>\n
<\/p>\n
\n The new 2M SF development would replace 38 low-rise residential buildings, containing 209 units.\n <\/p>\n
The development would span nearly 2M SF across 12 new buildings, according to a\u00a0plan filed Wednesday with the New York City Department of City Planning.<\/p>\n
Currently, 38 low-rise residential buildings\u00a0with 209 units, along with parking lots,\u00a0stand on the properties at 1754 Fulton St. and 53 Utica Ave. A vacant portion of the site is owned by the\u00a0Department of Housing Preservation and Development<\/a>.\u00a0<\/p>\n Of the 2,035 units planned, between 337 and 505 would be affordable\u00a0via Mandatory Inclusionary Housing, including 209\u00a0Section 8<\/a>\u00a0units that would replace the existing housing. A 17-story building would be constructed on the HPD site, with 351 units, 100% of which would be income-restricted, according to filings.<\/p>\n Under the plan, the first building to be constructed would be on a vacant area of the site. Residents who live in the buildings set to be demolished would be given the opportunity to move into a new apartment with the same number of bedrooms and bathrooms, with no temporary relocation necessary, L+M Managing Director Elaine Braithwaite said in a statement.<\/p>\n \u201cThe redevelopment of the 40-year-old Fulton Park buildings will deliver new state-of-the-art affordable apartments for each and every resident who lives there now,\u201d Braithwaite said. \u201cBy constructing the new modern buildings on the site of a parking lot, residents will be able to move only once their new apartments are finished, and pay the same rents they pay now.\u201d<\/p>\n \u201cAt the same time, we can help address the critical and deepening need for affordable housing in the area by adding new mixed-income rental and homeownership opportunities,\u201d she added.<\/p>\n \n A proposed illustrative site plan, included in filings with New York City Planning\n <\/p>\n In addition to the new housing, the 1.9M SF proposal calls for 21K SF of commercial space, 33K SF of community facilities and 97K SF of open space in the form of landscaped yards, recreational space and pedestrian walkways.\u00a0<\/p>\n L+M acquired the site in 2023 via a $28M, 99-year ground lease, Crain’s New York Business reported<\/a>. It\u00a0is across from the Utica Avenue train station, between Atlantic Avenue<\/a>, Utica Avenue and Hunterfly Place. It is near, but outside of, the section of Atlantic Avenue that was rezoned in May to clear the way for as many as 4,600 new homes in Bed-Stuy and Crown Heights.<\/p>\n The developers hope to receive approval this year and begin construction shortly after. Under the timeline, the buildings would not be fully operational and occupied until 2036, according to the filings.<\/p>\n","protected":false},"excerpt":{"rendered":"L+M Development Partners and SMJ Development are looking to build one of Brooklyn\u2019s largest mixed-use projects in recent…\n","protected":false},"author":2,"featured_media":110317,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[49540,49541,4986,4987,98,100,99,25779,49542,49538,9,24,63,13321,49539],"class_list":["post-110316","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-1754-fulton-st","tag-53-utica-ave","tag-bed-stuy","tag-bedford-stuyvesant","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-department-of-housing-preservation-and-development","tag-elaine-braithwaite","tag-lm-development-partners","tag-new-york","tag-new-york-city","tag-nyc","tag-section-8","tag-smj-development"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/110316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=110316"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/110316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/110317"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=110316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=110316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=110316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/p>\n