The Carlyle Group and Haussmann Development intend to construct a 99-unit apartment building in Brooklyn's Crown Heights. On Thursday, the developers filed plans with the New York City Department of Buildings (DOB) for a new 12-storey mixed-use building at 566 Grand Avenue, near the corner of Grand Avenue and Bergen Street. This submission marks another significant step in the development of the vibrant neighbourhood.
Spokespersons for The Carlyle Group and Haussmann Development did not immediately respond to enquiries from Commercial Observer. Should the plans be approved, the building will, according to the filing, include 99 Class-A apartments as well as ground-floor retail space. Ten units are planned for the second floor, eleven units each for the third to ninth floors, and four apartments each for floors 10, 11, and 12.
Amenities and Tax Considerations
The developers also plan to equip the property with several sought-after amenities. These include a pet spa, a tenant cinema, a games room, a children's playroom, co-working spaces, a gym, and an outdoor lounge. It is currently unclear whether The Carlyle Group and Haussmann Development will utilise the 485-x tax abatement programme. This programme grants developers significant and long-term tax relief if their buildings include a certain percentage of affordable housing.
However, the plan for 99 units might indicate that this could be the case. A largely unpopular component of the 485-x programme involves higher wage requirements for buildings with 100 or more units. Buildings with 99 or fewer units that utilise this programme are not subject to these wage requirements, which could be an incentive for the chosen number of units.
Development Momentum in Crown Heights
Crown Heights has recently been characterised by a wealth of residential development projects. Avery Hall plans an 18-storey, 250-unit development at 1550 Bedford Avenue, while the Metropolitan Transportation Authority (MTA) aims to construct a 300-unit residential complex in the neighbourhood at 1119 Pacific Street. These projects underscore the ongoing appeal and development boom in this part of Brooklyn. Demand for housing, both in the luxury and affordable segments, is steadily driving construction activity in Crown Heights, making the neighbourhood a significant hotspot in the New York property market.
- —The Carlyle Group and Haussmann Development are planning a new 12-storey building.
- —The project includes 99 Class-A apartments and ground-floor retail spaces.
- —Planned amenities include a pet spa, tenant cinema, and co-working areas.
- —The plan for 99 units might be related to the 485-x tax abatement programme.
