Designed by Costas Kondylis, Bruce Ratner’s 80 DeKalb Avenue will be the developer’s first residential tower to rise in Brooklyn. The controversial Mr. Ratner will seek LEED certification for the $200 million project, claiming that the 34-story tower will incorporate a variety of low-VOC materials and use low-flow plumbing fixtures.
The project broke ground back in July; earlier this week, Mr. Ratner closed on hard-to-obtain $110 million in tax-exempt bond financing from the New York State Housing Finance Agency for the tower, which will feature 73 affordable and 292 market-rate units. (Critics point out that this translates into a cost of $1.5 million in public money for each affordable unit). 80 DeKalb Avenue will remain affordable for 99 years, unlike most 80/20 (private/affordable) developments. Ratner plans on opening the project for leasing sometime next summer; the majority of the units will be studios and one-bedrooms.
Ratner’s First Tenants (Brooklyn Papers)