703 Myrtle Avenue
Update
10/26/23
703 Myrtle Avenue in Public Review
Applicant, Ranco Capital, LLC, is currently proposing an 8-story, mixed-use development, at 703 Myrtle Avenue in Brooklyn's Bedford-Stuyvesant neighborhood. Nearing the end of the public review process, the application is presently in the hands of the City Planning Commission, which is reviewing modifications, made by the City Council.
The application requests a zoning map amendment and a zoning text amendment to create a new, Mandatory Inclusionary Housing (MIH) area. A necessary change to facilitate the development, this will effectively encompass 3 full lots, and parts of 5 others (although the actual project site will only encompass one of these lots).
The proposed development would contain rental apartments, with approximately 18 of these units to be dedicated to affordable housing. Plans also call for square feet of ground-floor retail space, and an enclosed, cellar-level parking garage, with enough room for vehicles.
The building would stand feet tall, and total square feet. The project site spans square feet, and is currently used as a storage yard by a contractor. If approved, a couple of small structures would have to be demolished before construction could begin.
