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Sunset Park Library's Proposed Rentals Could Be $525 and Up

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The Brooklyn Public Library's Sunset Park branch might be expanding, and not just to make room for more books. DNAinfo reports that the nonprofit group Fifth Avenue Committee wants to add seven stories and 54 studio through three bedroom apartments priced below market rate to the building at the corner of 4th Avenue and 51st Street. Of the 54 apartments, 45 would be priced at less than half of the current market rents in Sunset Park, with studios renting from $525 to $750 and three-bedrooms from $796 to 1,249. The remaining nine apartments would be geared to moderate income households, with studios renting from $1,000.

The plan could also bring an additional 5,000 square feet to the 12,000-square-foot heavily-used library. The $25 million development would be a partnership between Fifth Avenue Committee and the Brooklyn Public Library, with BPL retaining ownership of the library and the committee owning the residential units. Although the plan is still in its fledgling stages, Fifth Avenue Committee is planning on applying for tax credits by the end of the year to help fund the project, while also seeking out community input. If approved, the ULURP process will begin in April. Construction could take about two years and begin in 2016.
· $525-a-Month Studios Proposed For Redevelopment of Sunset Park Library [DNAinfo]
· All Sunset Park coverage [Curbed]