312 Coney Island Avenue
Update
08/23/22
$135M Loan Secured for Windsor Terrace Mixed-Use Project
Developer, , and project partner, CanAm Capital Partners, have just obtained a $135 million loan for a 13-story, mixed-use development, set to rise at 312 Coney Island Avenue in Windsor Terrace, Brooklyn. Issued by Wells Fargo, this sum will fund the building's construction from the ground up.
The structure is planned to contain residential apartments, with approximately 78 units set aside for affordable housing programs. It will also have square feet of retail space, located on the ground floor, and an enclosed, cellar-level parking garage, with enough room for vehicles.
Since the project requires the demolition of an existing religious structure on the property, the International Baptist Church and its associated school will move into a dedicated, 41,380-square-foot facility, located within the new development.
Designed by , 312 Coney Island Avenue will stand feet tall and total square feet when completed. The project site was recently rezoned and is alternatively addressed as 11 Ocean Avenue. With financing secured, demolition and construction are likely to begin soon.
