PROJECTS

Brownsville Crossing

PROJECT STATS

Construction commenced Q3 2023
Affordable, Mixed-Use
Crescent-Nuvo Group, LLC
42 units of affordable housing, commercial space
The Housing Partnership
$36.8 million
Urban Quotient

Alembic is working in partnership with JMR Residential to develop a mixed-use affordable housing project in the Brownsville neighborhood of Brooklyn. The project, comprised of three buildings, will include approximately 1,390 square feet of commercial space and 42 units of housing for individuals and families earning less than 80% of area median income.

Proposed Development

The project consists of three sites in Brownsville, Brooklyn. Two of three sites (609-615 Osborn & 47 New Lots) are within blocks of each other, near where New Lots Avenue merges with Hegeman Avenue. The third site, 120-122 Liberty Avenue, is located 11 blocks to the North. Proposed development includes the following:

  • 609-615 Osborn Street: A four-story building that includes 12 units: 4 studio units, 5 one-bedroom units and 3 three-bedroom units. Amenities include a laundry room, bike storage, and rear yard.
  • 47 New Lots Avenue: A six-story building that includes 17 units: 5 studio units, 6 one-bedroom units, 3 two-bedroom units (including a super’s unit to serve all three buildings), 3 three-bedroom units and approximately 1,400 sq. ft. of commercial space. Amenities include a laundry room, bike storage, and outdoor space in the rear yard.
  • 120-122 Liberty Avenue: A four-story building that includes 13 units: 2 studio units, 7 one-bedroom units and 3 two-bedroom units and 1 three-bedroom unit. Amenities include a laundry room, bike storage, and outdoor space in the rear yard.

The buildings will be developed to Enterprise Green Community standards and the building designs include landscaping areas around the building featuring a variety of plant life that will help control storm water run off. Construction is estimated to be complete by the end of 2025.

Financing

9% Low-Income Housing Tax Credit equity from National Equity Fund, NYC Department of Housing Preservation & Development (HPD) Neighborhood Construction Program (NCP) subsidy, Community Preservation Corporation (CPC) Freddie Mac permanent loan

Photo: Urban Quotient

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