Downtown Brooklyn Development

[BrooklynRider]

The Toren is now up to 30 floors. We have 8 to go. This building looks good from every angle.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/DSCN1649.jpg

You can see cement being installed on some areas of the set back. Not sure what this is for. The base facade looks as though it is going to be very sculpted. I'm not sure how complex the installation process will be.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/DSCN1651.jpg

[BrooklynRider]

The site for City Point (Flatbush at Willoughby) is almost entirely cleared. I was very pleased to see that the bulldozers are starting to push through that horrid Toys R Us.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/DSCN1652.jpg

This is a very satisfying demolition.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/DSCN1654.jpg

Bye-bye parking lot and Albee Square Mall.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/DSCN1653.jpg

[BrooklynLove]

down goes albee!

[philvia]

anyone know when they expect to start the cladding on toren?

[vixstar]

anyone know when they expect to start the cladding on toren?

i had spoken to a sales rep a few weeks ago and he had said it would be soon so i suspect it will be...soon.

[MidtownGuy]

Wow, when I was a kid there was a song by Biz Markie called Albee Square Mall that made it famous with hip hoppers. Then when I moved down the street from it in the 90's it was just a dive, except of course there was a Botanica in the bottom floor where I used to buy my Santería supplies...but that's a different story;)

[Verm]

Anybody know why there has been no activity at the Toren site for the past week? The crane "looks" like one of the two that fell recently. In today's news there are crane rules and guidelines posted for all cranes operating in the city. Could these rules have anything to do with the Toren's inactivity? I see the building of it everyday as I live nearby and it has been very quiet for the past week or so.

[BrooklynLove]

here's the NB permit for 384 bridge (finally) - a 49 storey jumpoff.

http://a810-bisweb.nyc.gov/bisweb/WorkPermitDataServlet?allisn=0001833177&allisn2=0001038748&allbin=3000413&requestid=1

[bklynite]

wow -- both Lawrence and bridge got permits in before the 421a deadline -- looks like they're a real go. is bridge condos or rental?

[BrooklynLove]

i don't recall but i do think that the info is out there.

more news for downtown today - nyu-tech merger is a done deal
http://ny.therealdeal.com/articles/nyu-polytech-merger-approved

now that nyu owns the klitgord i think that we can expect them to start moving on some kind of development plan sooner than later, as well as numerous additional development plans sooner than later. this injection of private money is going to be great for the area.

[BrooklynRider]

NYU is a horrible developer and a really poor neighbor. I hope they are tightly contained in Brooklyn.

[philvia]

im hoping the merger will do a lot of good for the school... i just hope tuition increase doesn't happen till next year :X

hmmm and today their website is down? they have a "merger central" section i was hoping for some news but oh well

and maybe now i can use their pool :cool:

[antinimby]

Getting permits before the deadline is not good enough to meet 421a. You must have a foundation in place.

[bklynite]

true, but didnt these guys have foundation permits and work done long ago? if they hadn't gotten their superstructure permits, could have jeopardized the project, no?

[JohnC]

Hey guys, I was coming down Myrtle Avenue this morning and on the east side of Toren, right at the top of the base, where the tower section begins (floor 6?) they have begun cladding. Check it out if you can. It looks good! Can anyone get some pics?
John

[ap307]

Hey guys, I was coming down Myrtle Avenue this morning and on the east side of Toren, right at the top of the base, where the tower section begins (floor 6?) they have begun cladding. Check it out if you can. It looks good! Can anyone get some pics?
John

JohnC, how much cladding have they installed so far (and if you can tell from your limited data points, how quickly are they progressing)?

Also, does anyone know how many floors they have up?

[JohnC]

JohnC, how much cladding have they installed so far (and if you can tell from your limited data points, how quickly are they progressing)?

Also, does anyone know how many floors they have up?

Well, they haven't installed much, not even 1 floor worth, but the location of the cladding is on the top of the east side (Prince St Side) the base, before the actual tower section begins. It goes across the building, but some of it is covered by white tarp. It is really hard to explain, but if you get a chance to go over there, snap some pics!
John

[NYC4Life]

June 26, 2008

Toren (150 Myrtle Ave)

http://img.photobucket.com/albums/v638/GhettoRicanBx/Toren-150-Myrtle.jpg

[JohnC]

Wrong side of the building. East side, Prince Street, 6th floor. I walked over there today and they have 1 floor (the 6th floor) covered. Looks good. I wish I owned a camera!!
John

[BrooklynLove]

i saw the skin today - it looks absolutely beautiful. this building is going to be great.

[ap307]

i saw the skin today - it looks absolutely beautiful. this building is going to be great.

Have they added any cladding beyond what they've put up on the 6th and 7th floors facing Prince Street? I couldn't really tell what the building is going to look like from so little.

That said, it looks like they're preparing large sections of the building facing Flatbush for cladding (grips appears to have been attached to the steel superstructure), looking forward to seeing what that is going to look like...

[BrooklynLove]

^yep, the portion facing prince is what i saw.

[BrooklynLove]

obviously this would be a whole lot more easier to understand and visually pleasing if i could tell the story with pictures - i need to get on that. but in the meantime ... the few blocks in from flatbush and albee square are about to get it poppin. the large clothing store adjacent to the karl fischer hotel going up on duffield recently shuttered and its fate is pretty obvious at this point. this is a very large site. over on bridge between willy and fulton, once the cleaners moves to its new location in the new condo tower over on livingston, the entire block is getting leveled with the exception of once slender tower, and the landmarked building that runs along fulton from bridge to duffield, which is getting ready for its refurb. big things going on here.

[BrooklynRider]

It is such a great feeling to see that Toys R Us gone!

1.
http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/Casey-Glamor021.jpg

2.
http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/Casey-Glamor024.jpg

[BrooklynRider]

Avalon Bay moving along...

1.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/Casey-Glamor016.jpg

2.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/Casey-Glamor017.jpg

3.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/Casey-Glamor018.jpg

[BrooklynRider]

The first of Gene Kaufman's side-by-side hotels in Downtown Brooklyn continues to offend the senses.

http://i220.photobucket.com/albums/dd121/BrooklynRiderRob/Casey-Glamor023.jpg

[BrooklynLove]

http://nyrej.com/24115
* 80 DeKalb Ave., an 80/20 project will receive $137 million for a building with 365 units; 73 will be for low-income tenants.

time to bring in the crane boys!

[antinimby]

Here's the rendering of 80 DeKalb Ave from that link:

http://nyrej.com/images/stories/2008/80%20DeKalb%20Ave.%20Brooklyn_opt.jpg

Looks like it went glass. The previous version was red brick.

[BrooklynLove]

i doubt that it went glass

[antinimby]

You don't think so?

http://img530.imageshack.us/img530/6796/80dekalbxo3.jpg

[BrooklynLove]

added expense not justified here - remember that this is ratner.

[Clarknt67]

Forgive my laziness please, but which of the proposed towers is slated for the Toys R Us site? I'm a little confused on what's going where.

[BrooklynLove]

^ This lovely creature is going there - http://www.citypointnyc.com/

[Skylimitone]

Question is, will all those buildings in the promo be built? Would be great if they were.

[BrooklynLove]

Thus far all announced towers (and more) are still a go as far as I know ...

[BrooklynLove]

Here is a little tour of downtown development work: http://picasaweb.google.com/KingsCountyLove/71308

[philvia]

nice pics thanks :) dt brooklyn is exciting

[BrooklynRider]

That's an excellent photo tour BL. Thanks.

[Stroika]

Many thanks, BL. I drive by half that stuff every night that I work late and take a cab home, and it's great to see a lot of it documented in one place. Keep up the good work!

[antinimby]

So is the building as seen on the left side of this photo, with the cornice and a water tower on its roof getting razed as well?

http://lh6.ggpht.com/KingsCountyLove/SHqkURpa5rI/AAAAAAAAAHU/Hj_Ht8AfZc8/DSC02217.JPG?imgmax=512

[BrooklynLove]

As far as I can tell, that building with the cornice is staying put thankfully. I really enjoy looking at it.

It's my pleasure to share photos with the forum - it's the least I can do to pay my way.

[antinimby]

I am very weary of this project. I don't like razing an entire block, a larger than normal one as a matter of fact, just for one single project.

There are a lot of diverse shops on that block that will be lost, in all likelihood, for more banks and chains.

Why couldn't they just build on that parking lot and perhaps a few of the one-story stores adjacent to it?

[BrooklynLove]

AN - When was the last time you walked the blocks of Bridge, Duffield and Albee running between Fulton and Duffield? Trust me - your energy is much better spent praying for the continued existence of buildings elswhere in the boro.

[brooklynheights]

I agree, BL. I walk through this area all the time. It's true that razing entire blocks shouldn't be done thoughtlessly since so much of what makes a neighborhood a neighborhood is variety of design and purpose (there are many lessons to learn from mistakes made with MetroTech, for example), but in this case, the Flatbush zone that cuts through (and divides) downtown brooklyn needs major overhauling. The crap that was on the site of the Toys R Us needed to go.

Even though some of the large towers that result will be bland, I truly think the consequence of the large scale demolishing and rebuilding along the Flatbush coridor will be positive, especially since there appears to be so much focus on retail at street level and imporovement to the pedestrian infrastructure/experience. Forte Greene/Clinton Hill/Prospect Heights/BedStuy/Navy Yard and beyond need to be fully tied into Downtown/Beorum Hill/Brooklyn Heights/Park Slope and beyond on the other side. A Flatbush Avenue that has lots of people living and shopping on it will accomplish just that purpose.

[BrooklynLove]

BKHts - If you're in DC much, check out the renewal going on downtown around Metro Center - very striking resemblance to what is going on now in the vicinity of Fulton Mall and FBx, and makes sense in both places for many of the same reasons. I think that you'll find it interesting.

[antinimby]

I wasn't talking about not redeveloping the block but was lamenting the huge footprint of the new building.

To better explain what I'm talking about, here's a quick sketch I did:

http://img518.imageshack.us/img518/3448/footprinttv6.jpg

Generally, blocks with buildings that have small footprints are better and more interesting than ones where a whole building takes up an entire block.

[BrooklynLove]

you're deep antiN. just b/c they're razing all that area doesn't mean they're not going with multiple varying footprints.

[antinimby]

What are you talking about? It's one big project (http://wirednewyork.com/forum/showpost.php?p=166708&postcount=404).

[antinimby]

Get ready some more Gene Kaufman ugliness coming to 300 Schermerhorn St. according to Brownstoner (http://www.brownstoner.com/brownstoner/archives/2008/07/development_wat_262.php):

Another Hotel for Downtown Brooklyn

http://www.brownstoner.com/brownstoner/archives/300-Schermerhorn-Street-0708.jpg

With the Nu just opened, the Sheraton recently topped off, and Indigo at the foundation stage, you might be forgiven for thinking that there was enough hotel capacity in the pipeline for Downtown Brooklyn. Well, at least one developer thinks differently. SM Hotel Management, controlled by the Mehta family, paid $11 million for the 80-by-197-foot lot at 300 Schermerhorn Street last October and has just broken ground on what will be a 14-story, 247-unit hotel being designed by Gene Kaufman. Do you think Brooklyn can absorb all this hotel capacity?

[philvia]

what is it people see in his architecture!?!

[BrooklynLove]

What are you talking about? It's one big project (http://wirednewyork.com/forum/showpost.php?p=166708&postcount=404).

So? It's not uncommon for one large project to comprise multiple distinct buildings - especially in times of tight money.

[brooklynheights]

what is it people see in his architecture!?!

My guess is that they see an opportunity to make a fast buck. If you essentially have one design that you vary only according to size of lot, height, and color of cinderblock (shall it be pukey green this time? Or brown mixed in with a dash of pink?), your costs are pretty low!

One can hope that even where responsibility to the community fails to take hold in a person or company, pride would at least still keep that person or company in check. But once you lose your own self-respect, or worse, once you actually take pride in your own lack of standards, all is lost.

I'm only speculating here, but I don't think it's an accident that Kaufman/McSam do so many hotels. No one's identity is at stake in a low-end hotel, except for the hotel company that puts its name on one of these abominations (which does, indeed, astonish me that hotel companies are associating with this guy). With office buildings, fine retail and residential buildings, there's at least a chance that an appeal to the sensibilities of the prospective tenants will be taken into consideration during design. We all have hundreds of counter examples, but it seems that hotels and public housing are fertile ground for wicked architects and developers. The reason might be that the end user has no power other than to go elsewhere, and only if they can.

Hotels are there for people who float in and out, and if you can build something on the cheap (both in terms of design fees and construction fees) in an environment where people are willing to pay a lot for a hotel room-- any hotel room!-- where you can put up grandma for your kid's graduation or whatever (as opposed to 5-star business travelers), then there are plenty of architects and developers who are willing to take your money without any regard to any larger considerations.

The sad thing with Kaufman, of course, is that he's not only cheap, he's tasteless and lazy. It's easy to imagine doing something with the same budget that is much less offensive, even if it doesn't inspire. Architecture, after all, is like fashion. You have two choices: either shine, or blend into the background. It's better not to be noticed than to be noticed for all the wrong reasons. And it's not expensive or hard at all to simply not be noticed.

[brooklynheights]

So? It's not uncommon for one large project to comprise multiple distinct buildings - especially in times of tight money.

Hmmm...surely you are right that it's not uncommon for one large project to comprise multiple buildings. I'm not so sure I'd say "distinct." If you look at most large scale projects in this city, be it BPC or Atlantic Yards or the Hudson Yards proposals or Gowanus proposals or Williamsburg/Greenpoint waterfront developments or even Lincoln Center to a degree, the buildings might be distinct in that they have seperate walls and entrances, but they aren't architecturally distinct from one other within the same project. They are frequently (though certainly not always) designed by the same architect and built utilizing the same materials.

I do think the flatbush corridor needs a radical infusion of residents and retail, even if it means some big box retail-- and that's exactly what it's getting. And it is indeed crappy that some of the small and successful business owners are getting booted out against their will. I remain optomistic that overall, this is going to be a change for the better, but I see that the question AntiNimby seems to be raising is how it's done, not that it's done. And I can understand his concern that a little more creativity could lead to a significantly better result.

[NYC4Life]

NY1

Downtown Brooklyn Residents Protest Redevelopment Plan

http://www.ny1.com/ny1/content/images/live/144/287650.jpg

July 18, 2008

Residents near Downtown Brooklyn say the redevelopment of the area is hurting, not helping them and they're demanding change. Borough reporter Jeanine Ramirez filed the following report.

Community activists in Downtown Brooklyn tried to drown out the noise of the construction going on across the street Thursday as they protested the development.

Developer John Catsimatidis is building the tower on Myrtle Avenue, which he promised back in 2006 would include affordable housing. But now it's all luxury condos, angering a group of activists who are demanding that 50 percent be reserved for low-income families in the neighborhood.

"He's got an economic obligation, because he's gotten tax breaks and incentives and subsidies from the city,” said Reverend Mark V.C. Taylor of the Church of the Open Door.

But Catsimatidis says the city's tax free bonds are no longer available for the affordable housing component. He says he's now taking a wait-and-see approach in this hard economic climate. Meanwhile, he has already demolished the entire block, which used to include a pharmacy, a laundromat and a supermarket.

“It's wrong for you to tear down a city block with no plan in place and basically, shrug your shoulders and say I tried,” said City Council member Letitia James.

Now that the supermarket has been demolished, residents are demanding that Catsimatidis provide free shuttle service to and from a nearby supermarket until a new one is built in the area.

The developer says he plans to include retail on the site, including a new supermarket and pharmacy. Pratt Center for Community Development says the lack of services and affordable housing is not entirely the developer’s fault.

"It's not required. It's the city's fault that it's not required. If it was required, he would have to do it,” said Brad Lander of Pratt Center for Community Development.

The Pratt Center put together a report, which points out the flaws in the city's 2004 Downtown Brooklyn Redevelopment Plan. Among the problems listed are:


Lack of community input;
Understated impact of local business displacement;
More luxury housing than other development;
Few benefits to the low-income and working class in the area.

Surrounding the development are the Ingersoll, Whitman and Farragut Houses.

"There's been a community here. It's been here a half century. There are needs here,” said Rev. Taylor.

Protesters say one of their needs is the operation of a new community center across the street from the new development, which hasn't opened because of the city housing authority's lack of funds.

"We have a situation that is really upside down,” said State Senator Valmanette Montgomery.

It’s a situation activists and local lawmakers say should be fixed by first serving the needs of the existing community before wealthy developers.

– Jeanine Ramirez

[BrooklynRider]

Boy, Letiticia James is just proving to be unable to collaborate with anyone. She and her constituents keep bucking the guys with the money, instead of working with them.

[BrooklynLove]

She's an idiot and her relevance is following the trajectory of Indymac.

[Skylimitone]

Downtown Brooklyn can use all the development it can get there's a lot of under used space, I'm just keeping my fingers crossed given the current economic conditions.
Any word on the Full Spectrum project at Fulton and Ashland Pl?

[BrooklynRider]

I do wish we'd get some new Movie Theaters. The Borough is overall sorely lacking the modern cineplexes that now pepper Manhattan.

[Skylimitone]

I agree, that Court Street theater sucks and the building is horrid!

[BrooklynRider]

^ Just for the record, that theater building would be another ghastly project by Bruce Ratner.

Horrid.

[bklynite]

saw first floor almost complete at 111.

anything else shakin?

[antinimby]

80 DeKalb Ave. is also up to the first floor.

http://nyrej.com/images/stories/2008/80%20DeKalb%20Ave.%20Brooklyn_opt.jpg

[bklynite]

i do hope they go with that glass facade and not the other rendering.

[BrooklynLove]

Ditto, but I'm not holding my breath for it to happen. This joint is being almost entirely financed by govt debt.

[BrooklynLove]

Crane base is now in place for the Avalon tower at Flatbush and Myrtle. AVB doesn't mess around - they have really been flying on this place since excavation began. Anyone who is in the area should really check out the size of this footprint - definitely one of the (if not the) largest new building foundations I've seen go in the BK ground in my life.

[Skylimitone]

This building scares me. Not very excited about this one, I think it may be the scar on the skyline.

Lets hope I'm wrong.

[BrooklynLove]

I think that it will be unremarkable at worst. Definitely not a scar.

[Skylimitone]

It will block my dear Toren :(

[antinimby]

It will definitely be a hideous scar that will threaten to negate whatever progress the rest of Downtown has made in terms of better architecture.

It will essentially be a massive, taller version of the Avalon Chrystie...

http://www.curbed.com/archives/2005_02_avalon1.jpg

[Skylimitone]

^:mad: Avalon Ft Greene will be a bigger insult.
Fill in the blanks

http://farm4.static.flickr.com/3204/2783431678_5bb29984d0_o.jpg

http://farm4.static.flickr.com/3295/2783431394_513d931fea_o.jpg

http://farm4.static.flickr.com/3232/2783430982_21ce48d6ac_o.jpg

Toren from City Point site
http://farm4.static.flickr.com/3148/2782576765_7e958193c2_o.jpg

Looking Northward on Flatbush
http://farm4.static.flickr.com/3178/2782576249_dc45f63916_o.jpg

[BrooklynLove]

It will definitely be a hideous scar that will threaten to negate whatever progress the rest of Downtown has made in terms of better architecture.

It will essentially be a massive, taller version of the Avalon Chrystie...

You get the gold star for drama AN. It's really not that big of a deal.

[ap307]

You get the gold star for drama AN. It's really not that big of a deal.

And it's certainly an improvement over the gas station and car wash nearby (from a street level perspective)...

I'd give an arm and a leg to see the gas station and car wash closed...

[BK11201]

Hey guys,

Just wanted to introduce myself and contribute a picture.

It's not a definitive photo of the projects happening downtown, but I wanted to present a shot of the "goings-ons" in the area from an angle that I haven't seen before on this thread.

From my apartment window, I've been able to witness the near daily changes to the landscape since I moved in 8 months ago. The pace of change is really astonishing. As someone previously mentioned (BrooklynLove, I think), it's an exciting time to be in Brooklyn.

From this vantage point, you can see the new Boerum Place median improvement, the cranes for the 49-story Bridge St residential tower, a tiny sliver of the Toren, and the (god-awful) Sheraton.

Not a great photo by any means, but it's pretty amazing to see all these new buildings sprout up like bamboo. I'm anxious to see how the neighborhood grows over coming years.

Hope you all like the shot.

http://imgeasy.com/VIEWABE56http://i406.photobucket.com/albums/pp145/bk11201/DSC_0002.jpg
http://imgeasy.com/VIEWABE56http://imgeasy.com/VIEWABE56

[NYC4Life]

That is a classy view, but one view that can use a supertall :)

[sfenn1117]

I don't know my downtown streets, so is that the crane for the 49 story bridge st tower, or the 51 story tower on lawrence st?

Great view!

[BK11201]

I don't know my downtown streets, so is that the crane for the 49 story bridge st tower, or the 51 story tower on lawrence st?

Great view!

sfenn, I think you're right--the crane in the middle of the photo is indeed the 51 story Claret Group tower on Lawrence st, not 388 Bridge. It seems that you're much more familiar with downtown's streets than I am!

[BrooklynLove]

Yes - it's the Lawrence Street tower. crane was initially set a few weeks back - the tower girth and cab are massive - bigger than the set up for Beekeman Tower. This pappi is going to be huge.

In a few months we're going to have this crane as well as the Avalon and Bridge Street tower cranes all filling the sky at once.

[BrooklynRider]

August 22, 2008

Gehry Out as Architect of Theater in Brooklyn

By ROBIN POGREBIN (http://topics.nytimes.com/top/reference/timestopics/people/p/robin_pogrebin/index.html?inline=nyt-per)

The architect Frank Gehry (http://topics.nytimes.com/top/reference/timestopics/people/g/frank_gehry/index.html?inline=nyt-per) will no longer be a part of the project to build a permanent home for the Theater for a New Audience in the BAM Cultural District in Fort Greene, Brooklyn, the theater’s founder said Thursday. But the announcement came as a surprise to Mr. Gehry, who said he wasn’t told of the change.

Mr. Gehry had collaborated with Hugh Hardy (http://topics.nytimes.com/top/reference/timestopics/people/h/hugh_hardy/index.html?inline=nyt-per) on the theater building’s initial design. Now Mr. Hardy will be the sole architect on the project, according to the theater.

In an e-mail message sent via a spokesman on Thursday, Jeffrey Horowitz, the theater’s founder and artistic director, cited Mr. Gehry’s busy schedule and the need to finish the design within a few months, a process that included a site change in June.

For those reasons, Mr. Horowitz wrote, “Frank is unable to contribute to this final phase of design.” Mr. Horowitz added: “Frank Gehry has said to us, ‘I’m sorry that I have to withdraw, but I’m a great fan of Hugh’s, and Theater for a New Audience is going to have a terrific theater.’ ”

But reached by phone on Thursday, Mr. Gehry said his exclusion from the project was news to him. “I didn’t even know they were starting over again,” he said. “I suppose they didn’t need two of us.”

“He’s quite adequate for the job without me,” Mr. Gehry added, referring to Mr. Hardy. “I would guess there are financial reasons for this.”

In response to the architect’s comments, the theater provided The New York Times with a copy of its correspondence with Mr. Gehry’s assistant, in which the architect was said to have approved the language in the theater’s statement. “Frank told me he was too busy and was unable to continue with the project and that he had to withdraw,” Mr. Horowitz said
in a telephone interview. “We respected his wishes.”

The Theater for a New Audience is an Off Broadway company specializing in Shakespeare (http://topics.nytimes.com/top/reference/timestopics/people/s/william_shakespeare/index.html?inline=nyt-per) and classical drama. When designs for its new building were unveiled in 2005, the city said it expected the $48.5 million project to be completed in two years. Now Bruce Cohen, a spokesman for the theater, said the new building is “on track for breaking ground in the spring of 2009.”

The site shift in June was the third for the project. It will remain on a lot between Lafayette Avenue and Fulton Street but will now face Ashland Place to make way for a developer’s tower. It was moved in 2006 so that the site could become a gateway to the district.






Copyright 2008 (http://www.nytimes.com/ref/membercenter/help/copyright.html) The New York Times Company (http://www.nytco.com/)

[Derek2k3]

How is this good news? The previous design was nice with Gehry was nice. Hugh Hardy brought us the Zebra Building on 42nd.

Anyway 2 pics of the Oro.

http://farm4.static.flickr.com/3076/2793127402_66cde8a2fb_o.jpg


http://farm4.static.flickr.com/3147/2793127922_28173c22d9_o.jpg

[krulltime]

Hey what happen to the second Oro? And 85 Flatbush?

http://i5.tinypic.com/16irvhf.jpg

[BrooklynLove]

here are the latest permits on Flatbush Flatiron and Oro 2. Both are still holes in the ground, although Flatiron has some foundation work in. A lawyer involved in the Oro 2 project had told brownstoner several months ago that work wasn't planned to commence before september.

FF:

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=1&passjobnumber=310083325&passdocnumber=01

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=1&passjobnumber=310083334&passdocnumber=01


Oro 2:

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=302316848&passdocnumber=01

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=310075021&passdocnumber=02

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=3&passjobnumber=302382455&passdocnumber=01

[Mitch Warner]

Hi, as far as I can tell and have heard, Oro I has come to a complete standstill over the last couple months. I believe it's completely unoccupied. My understanding is that it hasn't been able to receive its certificate of occupancy for some reason, but that can't explain why no work has been done to finish the first floor and entrance, can it? And does anyone know anything about what the people who bought there are doing or are allowed to do? After such a long time without being able to close, I would assume they've all been given the option of backing out of their contracts.

Does anyone have harder information or more informed speculation? Thanks.

[Mitch Warner]

Angry Oro buyers indeed (and understandably so):

http://www.streeteasy.com/nyc/talk/discussion/4468-oro-condo-delays
http://www.brownstoner.com/forum/archives/2008/07/long_wait_at_or.php
http://www.brownstoner.com/forum/archives/2008/08/oro_condos_comp.php

[Eugenious]

Angry Oro buyers indeed (and understandably so):

http://www.streeteasy.com/nyc/talk/discussion/4468-oro-condo-delays
http://www.brownstoner.com/forum/archives/2008/07/long_wait_at_or.php
http://www.brownstoner.com/forum/archives/2008/08/oro_condos_comp.php

not surprising at ALL, these condo's were built to attract gullible yuppies and it looks like a lot of them got suckered into signing....

I just feel sorry for people who have families who have to stay with their relatives or friends because they planned to move in in '07 and now getting the raw end of the stick...

[BrooklynLove]

not surprising at ALL, these condo's were built to attract gullible yuppies and it looks like a lot of them got suckered into signing....

I just feel sorry for people who have families who have to stay with their relatives or friends because they planned to move in in '07 and now getting the raw end of the stick...

Slow down the bus Eug. If you read through those threads you'll find mostly inexperienced buyers with unrealistic expectations getting egged on by trolls. The predominant issue has nothing to do with Oro - general slowdown of the RE market depressing prices.

[bklynite]

seems like oro is just waiting for its tco/co. that can take time, out of developer's control.

[D. Velop]

How is this good news? The previous design was nice with Gehry was nice. Hugh Hardy brought us the Zebra Building on 42nd.

Anyway 2 pics of the Oro.

http://farm4.static.flickr.com/3076/2793127402_66cde8a2fb_o.jpg


http://farm4.static.flickr.com/3147/2793127922_28173c22d9_o.jpg

An architectural blow-up doll?!?

No not as much fun. Looks like a pumped up cardboard and acrylic model by a bad first year architecture student! :mad:

[philvia]

yea i see it from my window. i wish they would have just made it all glass instead. its no worse than any of the metrotech buildings anyways. yawn
:) thank goodness for the toren

[bklynite]

3 floors up at 111 lawrence.

duffield hotel getting brown brick facing.

coffee shop open in State Renaissance Court

even the elm & schermerhorn site is moving along, rebar and concrete being poured.

[BrooklynLove]

Word.

[NYC4Life]

Updated On 09/10/08 at 05:00PM

Oro closings finally expected to begin


http://s3.amazonaws.com/trd_three/images/31482/oro_articlebox.jpg (http://ny.therealdeal.com/assets/31482) Oro Condominium


By David Jones

Oro Condominium, the Ismael Leyva-designed luxury tower in Downtown Brooklyn, has sent out 30-day notices to buyers that it expects to begin closings at the long-awaited development.

Oro has been the subject of much speculation in recent months as anxious buyers have waited for word of a closing date on the controversial project, which critics have accused of being out of character with the public housing projects and low density brownstones in nearby Fort Greene.

Prudential Douglas Elliman has sold about 45 percent of the 303 units in the 40-story building at 306 Gold Street, but many of those buyers signed contracts more than a year ago when the New York condominium market was still going strong. According to Streeteasy.com, Oro has 132 units for sale at prices ranging from $357,000 to $1.43 million.

Some buyers are openly questioning what the value of their investment and whether they can even obtain financing.

Sam Heskel, executive vice president of HMS Associates, a Brooklyn-based appraisal service, said that buyers who have been in contract for more than a year may face financing difficulties, as banks have tightened the screws on new consumer financing. Heskel said a number of projects in Downtown Brooklyn have been converted from condo to rental, as sales have slowed considerably.

“People who bought with the intention of flipping, will probably try to get their money back,” he said.

Oro officials said they expect to gain approval for the condominium plan from the attorney general's office and then acquire a temporary certificate of occupancy from the city's Department of Buildings.

“We’re hoping [to start closings] by the first couple of weeks of October, said Matthew Faris, vice president at Greenfield Partners, the developer of Oro.

The project, which costs more than $150 million, is the tallest new construction project in Brooklyn, rising 40 stories tall. Greenfield, a South Norwalk, Conn.-based private equity fund and majority investor in the project, recently bought out original developers, United Homes, led by Ron Herscho, and Palin Enterprises, run by Dean Palin.

The building, located steps away from the Manhattan Bridge, offers spectacular views of the island and amenities include a swimming pool, residents’ lounge, screening room and a fitness center with racquetball and basketball courts.

Herscho and Palin remain involved in the Oro II complex, located across the street from the Oro condo. Ken Fisher, a land use attorney representing United Homes, said that groundbreaking on the hotel and apartment complex has been delayed because the developers are still working to secure financing.

[kevykev6]

http://www.dearchny.com/

Projects --> Exterior --> 388 Bridge st

http://i7.tinypic.com/53pd5sh.jpg

I love making random discoveries. This would be Brooklyn's tallest for a while...it has a nice tapered top and would add nicely to the skyline.

ahh alas hopefully our next big project

[bklynite]

any news on the bridge st. building?

flatbush continues to rise (further out):

http://www.brownstoner.com/brownstoner/archives/2008/09/big_plans_for_2.php

[Derek2k3]

Hopefully this tower will get moving next year.
Born in Brooklyn: the Ashland Center

http://www.aia.org/aiarchitect/thisweek08/0509/0509d_brooklyn.cfm

http://www.aia.org/aiarchitect/thisweek08/0509/0509d_brooklyn2_b.jpg

[Skylimitone]

Gosh torture, I'm nervous about all these projects.

[bklynite]

the projects with permits in place and foundations in should go forward in a similar form, even if they're sold to other developers. those should give critical mass. sure hope city point or willoughby park don't disappear.

[BrooklynRider]

Two thumbs up for the new Trader Joe's on Court Street. I understand it is the largest in the chain and, being in an old bank, the ceiling heights are wonderful.

[NYC4Life]

NY Daily News

School in old Brooklyn Family Court building is dangerously incomplete

BY RACHEL MONAHAN
DAILY NEWS STAFF WRITER
Monday, October 6th 2008, 4:00 AM

http://assets.nydailynews.com/img/2008/10/06/alg_school-building.jpg
Ward for News
This former Family Court building in downtown Brooklyn has a new life as a school, but it still has major problems.

As soon as you come over the Brooklyn Bridge (http://www.nydailynews.com/topics/Brooklyn+Bridge) you see it - the once-dingy old Family Court building on Adams St. turned into a brightly colored public school building.

Workers toiled around the clock in the weeks leading up to the start of school last month, but the building wasn't ready for students, parents and students told the Daily News. Worse, they say, it's actually dangerous.

"They need to look at all the problems. They need to go back and do it correctly," said Evangeline Coard (http://www.nydailynews.com/topics/Evangeline+Coard), a parent at the highly regarded Urban Assembly School (http://www.nydailynews.com/topics/Urban+Assembly+School) for Law and Justice high school, which shares the building with a middle school and a special education school.

The school seemed almost booby-trapped from the start.

A brick fell out of the drop ceiling into a first-floor office in the last few weeks. There were broken windows and exposed wires when students arrived.

A door - marked room number 617 - was left unlocked and leads not to a classroom, but to a 10-foot drop onto the roof.

"They were supposed to have a [locked] fire door there," said School for Law and Justice PTA (http://www.nydailynews.com/topics/Law+and+Justice+PTA) officer Nikki Harris (http://www.nydailynews.com/topics/Nikki+Harris). Her son Troy (http://www.nydailynews.com/topics/Troy), 17, a senior, and other students were excited to move to the new building.

"I figured ... everything would have been perfect when they walked into the building," said Harris.

Instead, the fire alarm has mistakenly gone off repeatedly - six or seven times one day, said parent Frank Dow, whose daughter attends eighth grade at the Urban Assembly Institute of Math and Science (http://www.nydailynews.com/topics/Urban+Assembly+Institute+of+Math+and+Science) for Girls.

"[Students] walked into a building where all the kinks haven't been worked out," said Dow. "I don't understand how they didn't get that corrected. Students are going to start thinking if the alarm goes off there's no fire.

There's the potential for all kinds of crazy things to happen."

Science labs for the high school aren't functioning yet, either. The gas won't be turned on for months, students said they were told. A haywire air-conditioning system makes some classes frigid and others boiling.

"It's been mad cold," said sophomore Symone Pritchard (http://www.nydailynews.com/topics/Symone+Pritchard), 14.

The roof leaked, displacing classes for a week from a high school room on the fifth floor while repairs were done. Water stains were still evident last week on the floor below - where classes had to be moved for a day.
"Each day a new piece of the roof was missing," said Tornelle Simon (http://www.nydailynews.com/topics/Tornelle+Simon), 15, a 10th-grader.

Education Department spokeswoman Margie Feinberg (http://www.nydailynews.com/topics/Margie+Feinberg) insisted the building is "safe." Principals of the schools did not return calls for comment.

"The work is ongoing," said Feinberg. "We knew there would be work that we would have to complete after the building opened in September."



© Copyright 2008 NYDailyNews.com. All rights reserved.

[brianac]

Updated On 10/06/08 at 03:51PM

Newly formed GSLM closes first deal


http://s3.amazonaws.com/trd_three/images/52536/columbia-hicks-sm_articlebox.jpg (http://beta.therealdeal.com/assets/52536) Columbia Hicks rendering


By David Jones

GSLM Capital Partners said it completed financing on the proposed $55 million Columbia Hicks apartment complex in Cobble Hill, marking the first development under GSLM's recently launched urban investment fund.

GLSM, a partnership of L&M Development Partners and Goldman Sachs' Urban Investment Group, established an $100 million urban investment fund in April to develop mixed-income housing in New York and other cities.

“We’ve been committed to rezoning and redeveloping this site with L&M into much-needed mixed income housing since January 2006,” said Carrie Van Syckel, a vice president at Goldman Sachs Urban Investment Group. “This particular area of Cobble Hill is a unique community and the sites were prime to be redeveloped, having been underutilized with light industrial activity.”

Columbia Hicks is a 149-unit rental complex on Columbia Street, just south of Atlantic Avenue on the Brooklyn waterfront, which includes 50 affordable units. The project, originally proposed in 2007, was scaled down after a series of contentious meetings with community members near the waterfront site.

Community activists were initially concerned about the height of the building and potential zoning changes in the area. Part of the project sits on land that the developer acquired from the city, according to Seth Donlin, spokesman for the Department of Housing Preservation and Development.

Citibank is providing the permanent and construction financing for Columbia Hicks. The city Housing Development Corp. provided about $20 million in bond financing and $6.4 million in low interest subordinate debt.

Ground breaking is scheduled to begin this month, with completion expected by late 2010. Pre-sales are expected to launch by mid-2009.

Goldman Sachs and Westchester-based L&M previously teamed up (http://ny.therealdeal.com/articles/goldman-teams-up-with-developer-on-100m-real-estate-investment-fund-2) on several development deals, including the Aspen, a rental building at 1955 First Avenue and the Kalahari, a luxury condominium at 40 West 116th Street.


http://beta.therealdeal.com/articles/newly-formed-gslm-closes-first-deal

© 2008 The Real Deal

[BrooklynLove]

Avalon is jamming big time on their tower - boom crane is up and they're getting close to moving above street level - the crew there is huge. Those south facing windows in the Toy Factory condos have about a month or so of life left.

[BrooklynRider]

Dekalb is up to the third floor too.

[antinimby]

Speaking of which, here's a recent pic...

http://img98.imageshack.us/img98/6837/img0193kq2.jpg

[antinimby]

235 Gold St.

http://img379.imageshack.us/img379/8529/img0216vx9.jpg


The 'rear' portion...
http://img379.imageshack.us/img379/3641/img0217cq8.jpg

[NYC4Life]

NY1

BROOKLYN IS GOING FI$HING

SEEKS MANHATTAN BIZ


By RICH CALDER

http://www.nypost.com/img/sl/exclusive.gif

Posted: 3:37 am
October 15, 2008

Brooklyn is spoiling for a fight with Manhattan in a new push to lure businesses across the East River.

Taking advantage of the slumping economy, the public-private Downtown Brooklyn Partnership plans to kick off an aggressive marketing campaign early next year to attract Manhattan and New Jersey businesses to the cheaper rents in Brooklyn's business district.

The partnership plans a media blitz that includes advertising, direct marketing and promotions.

It hasn't decided on slogans yet or how much will be invested.
Brooklyn Borough President Marty Markowitz said he welcomes the campaign.

"The 'Brooklyn Renaissance' continues to transform Downtown Brooklyn into one of America's most livable downtowns - a vibrant, 24/7, live-work urban center - and I applaud . . . the Downtown Brooklyn Partnership for building on my efforts to show businesses 'how sweet it is,' " he said.

But lower Manhattan Councilman Alan Gerson said the partnership should concentrate on soliciting New Jersey businesses and leave Manhattan alone.

"Brooklyn and Manhattan should be working together to come up with common marketing strategies to keep businesses in New York rather than trying to steal from one another," he said.

Glenn Markman, an executive director at Cushman & Wakefield, said there's already been "a wave of leasing activity" in the last six months involving Manhattan companies gravitating to Brooklyn.

He said he believes the marketing campaign will help keep businesses in the Big Apple as Manhattan companies already looking to move could consider Brooklyn. He said the partnership's previous work has helped turn Brooklyn into "an attractive, low-cost option to the Jersey waterfront, Manhattan" and other locations.

Downtown Brooklyn went through a development boom after a massive rezoning by the Bloomberg administration four years ago.

But a thriving residential market has so far been the rezoning's downfall as developers built condos, luxury apartments and hotels instead of new office and retail space.


Copyright 2008 NYP Holdings, Inc. All rights reserved.

[Mitch Warner]

Has anyone heard any further word on closings at Oro? I live nearby, and am curious to know when people will actually be moving into the empty monolith my wife and I refer to as The Building That Time Forgot. Last we'd heard, closings were "definitely" beginning October 15; of course, after this many delays, there's no reason to count on anything. Anyone know anything?

Thanks.

[bklynite]

new supermarket for 200 schermerhorn:

http://www.brownstoner.com/brownstoner/archives/2008/10/supermarket_aft.php

[Skylimitone]

The much anticipated Avalon Fort Greene has emerged from behind the construction fence. I think I saw a sign that said 'Coming in Summer 2009'. Sounds like a fast track project.

[antinimby]

New Plans for Myrtle Avenue, Brooklyn

http://newyork.construction.com/images/2008/10_Myrtle-Ave.jpg.jpg
Plans for the remaining buildings on Myrtle Avenue in
Brooklyn have been delayed due to the unavailability
of bonds, said developers Red Apple Real Estate.
The $26 million initial phase is being financed
personally by John Catsimatidis, chairman and CEO
of Red Apple as well as market rate bank financing.
Rendering courtesy of Dattner Architects.


October 2008 (http://newyork.construction.com/news/redevnews/default.asp#2)

Developers Red Apple Real Estate, Inc. has recently broken ground on the first phase of its Myrtle Avenue development project in the Fort Green, Brooklyn.

The project will include three low-rise buildings and a high-rise tower. The first phase of the project features 85,000 sq ft of market rate apartments and 22,000 sq ft of retail space. A drug store and supermarket will also be included.

Designed by Dattner Architects of New York, 218 Myrtle Avenue is a new nine-story residential and retail building at Myrtle Avenue and Ashland Place. “The exterior of the building is brick in several colors and patterns with metal panel highlights,” said a spokesperson for Red Apple. “Canopies and sunscreens shade public areas as well as adding scale. The first floor of the building at the street is a carefully designed retail storefront interspersed with the residential lobby to provide a neighborhood shopping experience on the lower two levels of the building.” The remaining eight residential floors will have 95 studio, one- and two-bedroom apartments.

Amenities will include a physical fitness center, community room, an outdoor recreation area and parking facilities.

Plans for the remaining buildings have been delayed due to the unavailability of bonds, said Red Apple. As such, the $26 million initial phase is being financed personally by John Catsimatidis, chairman and CEO of Red Apple as well as market rate bank financing.

“Before Freddie Mac and Fannie Mae and the host of other factors plaguing our economy we envisioned a much larger project being developed all at once on our three block property on Myrtle Avenue including a luxury condominium tower, additional condominium units and a retail ribbon spanning the length of this three block ‘superblock’,” said a spokesperson for Red Apple. “In recognition of current markets conditions we’ve split the project into four sites and four buildings. Previously they would have been connected by retail bridges. Now each being will be freestanding although we still envision this as one project and optimally would like to stage each phase one after the other so as to achieve certain synergies.”

“New Yorkers deserve the best quality of life possible and moving forward with a development that will include a neighborhood supermarket and a drugstore to meet the needs of this underserved community is the right thing to do,” said Catsimatidis. “I am pleased that we were able to structure a transaction that will allow this to happen.”

Rinaldi Group LLC of New York began construction work on the first phase of Myrtle Avenue in May 2008 and pending the development of the remaining phases, Red Apple is optimistic about completing the initial stage in July 2009 and immediately moving onto the next phase, the affordable housing component.

© 2008 The McGraw-Hill Companies, Inc.

[BrooklynLove]

Let's see what he deems mkt - this location is a big time stretch for lux 2k studios. Subways not all that close, amenities not all that close, PJs very close. The walk home at night down Myrtle from fFatbush will be an exilerating one.

[ap307]

Let's see what he deems mkt - this location is a big time stretch for lux 2k studios. Subways not all that close, amenities not all that close, PJs very close. The walk home at night down Myrtle from fFatbush will be an exilerating one.

Between Oro, Toren, Avalon (over 1,000 units in those three buildings alone), the Myrle / Flatbush intersection should be relatively pleasant soon.

This is ingoring Citypoint, Myrtle/Flatbush beautification and other projects which are still planned but not 100% certain. The recession will delay progress, but enought resources have been thrown at the area that enought things should stick...

[ap307]

The Changing Downtown B’klyn Skyline by Linda Collins (linda@brooklyneagle.net (linda@brooklyneagle.net)), published online 11-03-2008
http://www.brooklyneagle.com/images/1x1.gif

By Linda Collins
Brooklyn Daily Eagle
Despite the shocking newspaper headlines and the doom and gloom TV reports about the economic crisis, construction appears to be moving forward on several Downtown Brooklyn projects and, as Dennis Holt notes (see above), these projects will be changing the downtown skyline forever. The tallest, of course, are the 65-story City Point at Albee Square Mall and the 51-story Clarett Group building at 111 Lawrence St., both setting new records for “tallest” in Brooklyn.
These will be joining the almost complete and somewhat shorter 40-story Oro at 306 Gold St., the under-construction 37-story Toren at 150 Myrtle and the 40-story Avalon Gold at 343 Gold — all abutting Flatbush Avenue Extension — plus the 30-story Sheraton Hotel at 216-222 Duffield St., between Willoughby Street and Fulton Mall.
These do not include the Atlantic Yards project with its close to 50-story Miss Brooklyn planned for Atlantic and Flatbush. Although delayed by law suits, Forest City Ratner still expects to break ground for the arena component before the end of the year.
Following are summaries of these skyline-changing developments:
• City Point. Downtown Brooklyn’s largest project, it will be a mixed-use development that is anticipated to be 65 stories, will include retail, commercial and residential components and will add a dramatic new landmark to the Downtown Brooklyn skyline.
A joint project of Acadia Realty Trust, MacFarlane Partners, P/A Associates, Washington Square Partners and Rose Associates, the design is by GreenbergFarrow Architects. The old buildings and garage have been demolished and the site cleared awaiting the start of construction.
As reported recently in the Eagle, Cushman & Wakefield has already been hired to begin marketing the 350,000- square-foot, 17-story office component.
• 111 Lawrence St. The steel structure looks to be about five stories above street level on this 51-story, 491-unit residential mixed-use building, a project of The Clarett Group, which also built Forte at Ashland Place in Fort Greene. Completion is anticipated for early 2010. The architect is Gerner Kronick + Valcarel.
The Downtown Brooklyn Partnership reports there will also be approximately 7,000 square feet of retail on two floors.
• Oro at 306 Gold St. The 40-story development is a project of Greenfield Partners As recently reported in the Eagle, closings are already taking place for those with units on floors 1-30.
Ismael Leyva Architects designed the building, the tallest to be constructed in Brooklyn in the last 80 years.
• Toren at 150 Myrtle Ave. Sales at Toren (a Dutch word for tower), a 37-story, 240-unit building, have reached over 55 percent in just five short months, according to developer Don Capoccia, a partner with Joseph Ferrara and Brandon Baron at BFC Partners, who credits the great sales during these challenging times to “Toren’s quality, great location and prices.” The design is by Skidmore Owings & Merrill Architects.
• Avalon Gold at 343 Gold St. The steel structure can be seen above the fence for this 41-story, 627-unit residential mixed-use development, a project of AvalonBay Communities, based in Virginia. The design is by Perkins Eastman Architects.
• The Sheraton Hotel at 216-222 Duffield St. A project of The Lam Group, with design by Gene Kaufman Architect, the almost-complete 30-story, 300-room hotel will soon be joined by a 180-room Aloft hotel in an adjoining lot.
————————
© Brooklyn Daily Eagle 2008 All materials posted on BrooklynEagle.com are protected by United States copyright law. Just a reminder, though -- It’s not considered polite to paste the entire story on your blog. Most blogs post a summary or the first paragraph,( 40 words) then post a link to the rest of the story. That helps increase click-throughs for everyone, and minimizes copyright issues. So please keep posting, but not the entire article. arturc at att.net


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[BrooklynLove]

Between Oro, Toren, Avalon (over 1,000 units in those three buildings alone), the Myrle / Flatbush intersection should be relatively pleasant soon.

I know this stretch and the surrounding area very well. It's a long journey down Myrtle from Oro, Avalon and Toren to this Cats building. It's going to be very tough for Cats to find residents willing to pay lux rents in that building until he fills in the gap along Myrtle with his other 3 buildings.

You'll see what I mean once you've moved into Toren.

Peace.

[NYC4Life]

mcbrooklyn

Thursday, November 6, 2008

Commerce Bank Disappears Overnight, Replaced by Canadian TD Bank (http://mcbrooklyn.blogspot.com/2008/11/commerce-bank-disappears-overnight.html)


http://1.bp.blogspot.com/_GTU_nOCsE-s/SRJaqbG_0UI/AAAAAAAAEJ4/oNSfLtFenK0/s320/IMG_3403_TD_bank_MKMetz.jpg (http://1.bp.blogspot.com/_GTU_nOCsE-s/SRJaqbG_0UI/AAAAAAAAEJ4/oNSfLtFenK0/s1600-h/IMG_3403_TD_bank_MKMetz.jpg)

Commerce Bank disappeared on Montague Street in Brooklyn Heights Saturday, as it did at 575 other locations.

Green signs bearing the unfamiliar TD brand were quickly installed, and thank goodness, the clock was returned to standard time. It had been stuck in military time for weeks, and we were getting pretty tired of translating 1800 hours into 6 o'clock.

So who is this TD, and what happened to Commerce?

From BizJournals (http://www.bizjournals.com/southflorida/stories/2008/10/27/daily58.html):
"Headquartered in Portland, Maine, and owned by TD Bank Financial Group of Toronto, Canada, TD Banknorth bought Commerce's parent, Cherry Hill, New Jersey-based Commerce Bancorp in March for $7 billion."

According to a press release published in MarketWatch (http://www.marketwatch.com/news/story/Welcome-TD-Bank-Americas-Most/story.aspx?guid=%7BFC367BBA-1245-40BE-9C6B-0AEE93F4DC3F%7D), the bank may have a new name, but "the brand positioning as 'America's Most Convenient Bank,' with its legendary focus on convenience and service, remains unchanged."

The legendary lines remain unchanged as well, we notice.

http://1.bp.blogspot.com/_GTU_nOCsE-s/SRJcsuhuhGI/AAAAAAAAEKA/4PIbSCxVqNY/s320/IMG_3405_lines_at_TD_bank_MKMetz.jpg (http://1.bp.blogspot.com/_GTU_nOCsE-s/SRJcsuhuhGI/AAAAAAAAEKA/4PIbSCxVqNY/s1600-h/IMG_3405_lines_at_TD_bank_MKMetz.jpg)

Thank goodness the legendary change machine is still working! This is where we bring in all those pennies that we have been collecting to pay off our credit cards . . .

TD (http://www.tdbanknorth.com/InvestorRelations/) stands for Toronto–Dominion.

Photos by MK Metz

[bklynite]

http://www.brownstoner.com/brownstoner/archives/2008/11/new_building_pl.php

can anyone who knows how to read DOB filings confirm whether city point has indeed been reduced to 16 stories?

http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=1&passjobnumber=310229295&passdocnumber=01


An acadia realty trust earnings call recently had the following to say aobut the project:

"As I mentioned earlier on the call, the debt markets for construction financing are highly illiquid, especially for loans over $50 million or so. In our pipeline, the one development that clearly falls into this category is City Point in Downtown Brooklyn and even in this case there maybe counterbalancing benefits with potential reductions in cost of construction, offsetting the cost of delay or increased capital costs. In fact, a 5% decline in construction costs should fully offset a one-year delay in the project assuming our current carrying costs.

Furthermore, it's very possible; in fact, it's likely that costs savings could be well in excess of 5%. But this might be offset by increased debt cost or potentially weakening fundamentals, nevertheless given the unique location, the fact that we have Target as our retail anchor and strong interest from other retailers, we wouldn't be surprised that our patience and persistence could be well rewarded in City Point."

http://seekingalpha.com/article/105085-acadia-realty-trust-q3-2008-earnings-call-transcript?page=-1

[BrooklynLove]

piecemeal permits ... and financing. patience.

[NYC4Life]

Brooklyn Daily Eagle

DOB Application for 16-Story Tower At City Point Not All There Is

by Linda Collins (linda@brooklyneagle.net (linda@brooklyneagle.net)), published online 11-13-2008 (livecall:11-13-2008)

Filing is For Class A Commercial Office Tower Only
By Linda Collins
Brooklyn Daily Eagle

DOWNTOWN BROOKLYN — A Brownstoner.com item on Wednesday hinted that the new Downtown Brooklyn mixed-use development, City Point, could be “a lot shorter than previously planned.”

And it cited as explanation an application filed with the Department of Buildings on Friday for a 16-story, 268-foot-tall 900,000-square-foot building — although it did add, “It appears from the application that this is all commercial space.”

A spokesperson for Cushman & Wakefield confirmed Thursday that this application is for just one aspect of this mixed-use development.

“The plans submitted to DOB are for the office tower and Cushman & Wakefield serves as the exclusive leasing agent,” he said. “Interestingly, the leasing team is already seeing interest from a variety of office space users.”

As previously reported in the Eagle, this Class A office tower will be the first Gold LEED Certified office property in Brooklyn.

Also as previously reported, the overall project — being built on the site of the former Albee Square Mall — will, indeed, feature retail and residential components as well.

A joint project of Acadia Realty Trust, MacFarlane Partners, P/A Associates, Washington Square Partners and Rose Associates, City Point is situated on the former Albee Square garage site and across from the soon-to-be-constructed Willoughby Square Park.

With approximately 350,000 square feet of office space, the 17-story green office tower will serve as the crown jewel of the City Point complex and be a dramatic new landmark in the Brooklyn skyline, according to Cushman & Wakefield’s Glenn Markman, who with Frank Cento and Danielle Zimbaro will comprise the company’s City Point leasing team.

Said Markman, “Corporations want to move key operations to offices in Brooklyn and with City Point we finally have the Class A space in which to house them.”

Designed by the architectural firm Cook+Fox, City Point will boast a number of high-end amenities including a health club, sky lobby, onsite parking, 24/7 security and a subway stop directly accessible from the lobby.
The residential component will include both affordable and market-rate rental housing.


© Brooklyn Daily Eagle 2008

[NYC4Life]

Brooklyn Paper

November 19, 2008 (http://www.brooklynpaper.com/sections/31/46/)

Albee darned! Square will get megabucks makeover

By Sarah Portlock
The Brooklyn Paper

http://www.brooklynpaper.com/assets/photos/31/45/31_45_albeesquare2_z.jpg
The Brooklyn Paper / Tom Callan
This area near the intersection of DeKalb Avenue and the Fulton Mall — just west of Flatbush Avenue — will get a $12-million makeover.


The city will close a part of DeKalb Avenue in order to nearly triple the Albee Square pedestrian plaza in Downtown, officials announced on Tuesday.

Officials from the Economic Development Corporation and Department of Transportation unveiled a $12.5-million design that would more than double the size of the somewhat-neglected plaza at the triangular intersection of Fulton Mall, DeKalb Avenue and Bond Street — an area that will someday be the heart of a revived residential and commercial district that includes a Target mega-store and CityPoint, a 65-story residential and retail tower that will be the tallest building in the borough.

The Albee Square makeover will include new street furniture, public seating, bicycle racks, lighting and trees. The city hopes to start construction this winter, and finish by 2011.

The changes are part of larger Fulton Mall renovations, explained Chris Hrones, the city’s Downtown Brooklyn transportation coordinator.

“We’re going for a more modern look on Fulton Mall,” Hrones added, pointing to inclusion of new glass bus shelters and metallic Y-shaped lighting.

The plan would require the closure of a block-long portion of DeKalb Avenue west of Flatbush Avenue. One-way traffic on DeKalb Avenue would be rerouted to Bond Street, then west on Fulton Street for one block and could then turn right onto Gold Street.

Community members were largely in support in the plan, although some were concerned about the effect on bus traffic, which would be rerouted to Fulton Street with no relocation of stops, Hrones said.

A landscape consultant who worked on the project, Mark Minkley, assured the audience that traffic congestion area would not overflow into the new space.

“This plaza will look very much like a plaza, and I guarantee it will not be used as a parking lot,” Minkley said.

There’s no question what side the Downtown Brooklyn Partnership is on.

Two years ago, the quasi-public agency put out a report that called for closing the one-block segment of DeKalb to “truly transform this space” or create a venue for events that would take advantage of the grandeur of the Dime Savings Bank building at the eastern side of the square.

The Department of Transportation will accept written comments until Dec. 17. Call (718) 222-7271 (livecall:(718)222-7271) for info.



©2008 The Brooklyn Paper

[Skylimitone]

Alert! the Avalon Fort Greene monster is up to about 4 levels now.

[NYC4Life]

Brownstoner

November 28, 2008

Development Watch: Avalon Rising on Myrtle (http://www.brownstoner.com/brownstoner/archives/2008/11/development_wat_326.php)

http://www.brownstoner.com/brownstoner/archives/Avalon-Myrtle-1108.jpg

What a difference a month makes! At the end of October, this (http://www.brownstoner.com/brownstoner/archives/avalon-fort-greene-1008.jpg) is what the Avalon Bay site at the corner of Myrtle and Flatbush Extension looked like. Now? Well, they've got four stories up. Let's see where they are a month from now.