Gowanus Lounge: Serving Brooklyn

Development Notebook: Ratner Rising (But Not at Atlantic Yards)

February 9th, 2009 · No Comments

Bruce Ratner may (or may not) curse the day he ever became involved in Atlantic Yards, but most of his other Brooklyn real estate ventures have face much smoother sailing and gotten much taxpayer support. The building rising in the distance (next to the nearly vacant Forte condo tower) is Ratner’s 80 Dekalb Avenue, just a block in from Flatbush. It will be a 34-story Costas Kondylis-designed glass tower that kind of stands on the Fort Greene-Downtown Border. When it’s done the Ratner-Kondylis tower will have 292 units, 73 of them “affordable” housing. And where do taxpayers figure into this baby? The devleopment got $109.5 million in tax-exempt bonds and $27.5 million in taxable bonds. We like to think of this as the under-the-radar Bruce.

Tags: Fort Greene