Monday LEEDoff*: Atlantic Terrace, Brooklyn, New York

Construction on Atlantic Terrace, an eighty-unit residential development at Atlantic and South Portland Avenues in Brooklyn will begin today, according to the New York Observer. Designed by Manhattan-based Magnusson Architects, 50 percent of the units at the $20 million, 10-story condominium will be set aside for affordable housing. (We’ve written previously about Dattner Architects’ 1870 Eastern Parkway, another affordable housing development in Brooklyn.) Atlantic Terrace’s top two floors, though, will include seven market rate duplexes with private outdoor space, and the complex will also offer 12,100 square feet of ground floor retail space. The project will seek a LEED Gold rating from USGBC.

Interestingly, the Observer reports that the project was initially to include building-integrated photovoltaic panels, but proposed towers at Bruce Ratner’s Atlantic Yards project across the street would cast shadows on Atlantic Terrace such that the panels’ implementation would be rendered inefficient. Nevertheless, other green design features under consideration include a geothermal heating and cooling system and high-performance HVAC and electrical systems. The project, which is being developed by the non-profit Fifth Avenue Committee and its partners MAP Development and Line Development, is also located on the site of a former brownfield, as Atlantic Avenue was traditionally a stretch of manufacturing and other industrial facilities.

• Atlantic Terrace (CNU)
• Brokers Back Affordable Housing in Brooklyn (gbNYC)
• In the Shadow of Atlantic Yards (NY Observer)

*The Monday LEEDoff is sponsored by Blumberg Capital Partners, which specializes in U.S. investment and asset management of commercial real estate. Its investors are high net worth individuals and institutional investors, including pension funds, foundations and banks. Visit the Philip Blumberg Blog for additional information.