Plans have emerged from a third developer of Bushwick's Rheingold Brewery site, which takes up 10 blocks of the neighborhood and has been in the redevelopment phase for years now. All Year Management has taken on a two-block-long site and plans to build a 1 million-square-foot, 800- to 900-unit rental complex, according to The Real Deal. The development, to be called Bushwick II, will be bound by Stanwix and Melrose streets and Evergreen and Flushing avenues.
All Year Management purchased two parcels from Princeton Holdings and Read Property Group, who own a majority of the brewery site. All Year Management bought 123 Melrose Street for $68.5 million last November and then 28 Stanwix Street, the adjacent site, for $72.2 million this spring. Read Property Group has been divvying up the brewery site as of late—they also sold the site just south of this new development, at 10 Montieth Street, to the Rabsky Group. Rabsky plans to build a 400,000-square-foot rental with around 400 units.
ODA designed a jagged donut-looking building for 10 Montieth Street, complete with a 25,000-square-foot rooftop garden, 19,000-square-foot interior courtyard, a climbing wall, and coworking spaces. The architecture firm will also design the Bushwick II development, which will be significantly larger than 10 Montieth. According to TRD, the building "will feature a complex system of interconnecting courtyards and common spaces, including coffee shops, art galleries, lounges and fitness areas." It will also outdo the roof at 10 Montieth Street, with 60,000 square feet, an urban farm, and rec and exercise spaces. An 18,000-square-foot park will run through the center of the building.
For this project, ODA took inspiration from a European village: "By interrupting the rigid order of a typical NYC street grid and blending it with the sequencing of a European village, the path becomes a meandering courtyard rather than a direct line from a to b," says ODA’s founder Eran Chen.
About 20 percent of the 800-900 rental units will be affordable. (At 10 Montieth, they have also promised 20 percent of the rentals to be priced below market rate.) Affordable housing has been a persistent concern at the high-profile development site.
- Yoel Goldman planning colossal rental building at Rheingold Brewery site [TRD]
- Third Developer Eyeing Bushwick’s Lucrative Rheingold Brewery Site [Curbed]
- All Rheingold Brewery coverage [Curbed]
Loading comments...