326 Rockaway Avenue
Update
03/07/24
Brownsville Affordable Housing Project Nears Final Height
General contractor, , is now only a few floors away from topping out a 14-story, mixed-use housing project, going up at 326 Rockaway Avenue in Brownsville, Brooklyn.
Jointly developed by Slate Property Group and RiseBoro Community Partnership, the building is set to contain units in total, with approximately 60% of these to be used as supportive housing for young adults. Technically zoned as community facility space, rather than residential, these units will span 78,266 square feet. The building will also feature 423 square feet of auxiliary community-use space, where RiseBoro will provide a variety of support services.
In addition to supportive housing, the remaining 40% of units will consist of traditional affordable housing, reserved for low-income families. Furthermore, plans call for square feet of retail space, located on the ground floor, as well as an enclosed parking garage, with enough room for vehicles.
Designed by , 326 Rockaway Avenue will stand feet tall and total square feet. Back in December of 2022, the development team obtained a $121.7 million loan for the project. Issued by Goldman Sachs Asset Management, this influx of capital has been used to fund all construction costs from the ground up.
