Brooklyn Affordable Communities Score New Property Manager

By Alex Girda, Associate Editor

Two currently under-development Brooklyn affordable communities were added to CompassRock Real Estate’s property management portfolio. Both of the multifamily assets are being developed part of Greenland Forest City Partners’ Pacific Park master-planned community.

Set to take shape at 535 Carlton Avenue and 38 Sixth Avenue, the new affordable communities will add 598 affordable units to Brooklyn’s housing stock. Both properties will feature ground floor retail components.

535 Carlton Avenue

535 Carlton Avenue will be an 18-story building offering 298 residential units aimed at households with low-, moderate- and middle-incomes. The 292,000-square-foot community is being constructed as per designs provided by COOKFOX, with the end product set to feature amenities including rooftop farming and an underground parking garage. The variety of units available ranges between studio and three-bedroom. 535 Carlton is scheduled for completion in the fall of 2016.

38 Sixth Avenue

The second affordable community is designed by SHoP Architects and will total 300 units. 38 Sixth Avenue residences will be aimed at a similar segment of the population and will also feature an underground parking facility. Pacific Park Brooklyn’s planned health care center will be integrated in the 23-story building upon its completion, in early 2017.

Located on 22 acres of land between Flatbush and 4^th Avenue to the west, Vanderbilt Avenue to the east, Atlantic Avenue to the north, and Dean and Pacific Streets to the south, the Pacific Park Brooklyn development is aiming to create a new neighborhood in the borough. At full build-out, the project will feature 6,430 residential units, one million square feet of commercial space, 250,000 square feet of new retail stores and restaurants, and eight acres of public space.

Images courtesy of https://pacificparkbrooklyn.com