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774-Unit Gowanus Green Development Is Still Happening

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The Lightstone Group's colossal rental development for Gowanus has been in the news quite a bit (mostly because the community doesn't want it), but it's been nearly four years since we heard anything about Gowanus Green, the other giant residential development planned for the banks of Brooklyn's Superfund canal. But a new Post story about changes in the neighborhood confirms that the 774-unit project is indeed still happening. Developer Hudson Companies is still planning for it to be a 790,000-square-foot mixed-income development, with 70 percent of the rentals and condos classified as affordable. There will also be "nearly 100" rental units reserved for seniors. The project is located at Smith and Fifth Streets, and while the Post story gives no indication as to whether or not construction has started, a rep from Hudson Companies said the development should open in 2017.

The Lightstone Group, which bought 363-365 Bond Street from Toll Brothers, plans to open the first phase of its 700-unit rental development in fall 2015, with the second phase opening in 2016. Other developments coming to the 'hood include a 30-unit condo building by Sterling Equities at 345 Carroll Street, and the 25,000-square-foot warehouse at 318 Nevins Street will likely be converted to condos by Property Markets Group. We'll likely be hearing a lot more about all of these projects soon, as they'll all need a rezoning or variance to build residences.
· With its namesake canal finally getting clean, Gowanus grows [NYP]
· Gowanus Green coverage [Curbed]
· 363-365 Bond Street coverage [Curbed]

363-365 Bond Street

363-365 Bond Street, Brooklyn, NY