975 Nostrand Avenue
Update
08/08/24
$135M Mixed-Use Project Stands Topped Out in Crown Heights
Since our last update in March, general contractor, , has topped out a 9-story, mixed-use development, going up at 975 Nostrand Avenue in Brooklyn's Crown Heights neighborhood.
Developed by , the building is set to contain rental apartments, with 30% of the units to be dedicated to affordable housing. Plans also call for square feet of retail space (consisting of a FRESH grocery store), 767 square feet of community facility space, and an enclosed parking garage, with enough room for vehicles. Tenant amenities are to include a fitness center with a yoga studio, a media lounge, karaoke and game rooms, a library, a landscaped courtyard, and outdoor recreational areas.
Designed by , the structure stands feet tall and totals square feet. The development is being sustainably engineered and will aim for LEED Gold and EnergyStar certifications. The building will also have solar panels and participate in the ConEd Clean Heat program.
The development replaces a stand-alone, Associated grocery store, which was demolished, with plans to move the store into the new building. Earlier this year, the project team secured a $135 million loan, issued by Santander Bank and Related Fund Management, which is being used to fund a majority of the construction costs.
