The proposed 224-foot-tall development will consist of a 16-story east tower and a 21-story west tower, yielding a total 313,672 square feet. Approximately 286,740 square feet will be designated for residential space and 26,932 square feet for commercial space. The building will have 360 residences, most likely rentals based on the average unit scope of 796 square feet. The concrete-based structure will also have a cellar, a 30-foot-long rear yard, and 54 enclosed parking spaces.
Anybody going to say it? No? OK, then, I’ll go.
I hate to break it to you, but the Gowanus Canal is going to be Brooklyn’s answer to the High Line. You heard it here first. You have your downtown district shaping up with 80 Flatbush, Brooklyn Tower and the like, but now, you are going to be blessed with a clean waterfront in the area that may very well support some needed recreation, and tourist activity to boot. It will have some challenges with the superfund stuff, but Gowanus is looking up, and not a moment too soon. It is high time a decent swathe of Brooklyn gets some Chelsea-style modernization. Not an overwhelming amount, just a strong, core pocket of post-industrial landscape desperate for some reinvestment. Also, the skyline of the whole city needs some cross-river presence.
Well hello, Williamsburg number 2!
Bushwick leaves the chat (especially since they had zero development in the past few months)
Looking forward to this area’s revitalization. We will see massive development from this point onward
Gowanus is going to be Brooklyn’s Chelsea, and its high line will be the canal. Tons of post-industrial landscape ready to be realized here.
Developers Secure $176 Million Loan For 420 Carroll Street In Gowanus, Brooklyn
BY: SEBASTIAN MORRIS 7:00 AM ON AUGUST 22, 2022
Domain Companies has closed on a $176 million construction loan to complete a 360-unit two-tower development at 420 Carroll Street in Gowanus, Brooklyn. Designed by FXCollaborative, the waterfront property will comprise a 20-story tower, a 15-story tower, and a publicly accessible connection to the Gowanus Canal promenade.
According to the developer, 25 percent of the apartments will be designated as affordable housing, available to households at 40 to 100 percent area median income (AMI). Amenities will include coworking space, a resident lounge, multiple outdoor spaces, a fitness center, a children’s playroom, and bike storage. Additional components include 27,500 square feet of retail.
“We are excited to advance 420 Carroll and support sustainable development in the Gowanus neighborhood,” said Matt Schwartz, co-CEO of Domain Companies. “After working closely with individuals and organizations across the community for the past several years, this closing marks an important step forward in delivering much needed mixed-income housing for Gowanus and New York City.”
Site map for 420 Carroll Street in Gowanus – Courtesy of LoopNet
Previous industrial building at 420 Carroll Street in Gowanus – Courtesy of LoopNet
The development site is located within an 82-block rezoned area surrounding the Gowanus Canal. The initiative to rezone the area is expected to facilitate the construction of more than 7.6 million square feet of residential area, upward of 1.5 million square feet of commercial area, and an overall reduction of vacant, underutilized land. These developments would also include expanded community facilities, publicly accessible open space, and parking.
In 2018, Domain Companies acquired 420 Carroll Street from Property Markets Group for a reported sum of $47.5 million. Total development costs are estimated at $295 million, and the project will utilize New York City’s 421a tax abatement program.
420 Carroll Street, already under construction, will be one of the first properties to debut as a result of the Gowanus rezoning initiative.
Upon completion in 2024, the development is expected to achieve LEED Platinum certification.
Rendering of the rezoned Gowanus waterfront and public esplanade along Nevins Street – SCAPE; Gowanus Forward
Rendering illustrates President Street within rezoned areas of Gowanus waterfront – Gowanus Forward
Plus close to the DNR lines, very convenient.
Mostly the R, you would have to go to Barclays for the D&N.
once cleaned up and landscaped, the Gowanus will be a nice area
You’re right. I was going by google maps. Gowanus has charm now, something I would not have said twenty years ago.
its definitely come a long way from the condition it used to be in.