The development juggernaut in Brooklyn’s resurgent Gowanus neighborhood gained more momentum with a crucial construction loan this week — but the state’s refusal to extend the 421A tax-abatem…
The development juggernaut in Brooklyn’s resurgent Gowanus neighborhood gained more momentum with a crucial construction loan this week — but the state’s refusal to extend the 421A tax-abatement program could spell an end to it.
The loan allows vertical construction to start immediately. Gindi and Avery bought the site in 2019 but work had only reached the foundation stage. Meanwhile, Domain Companies is to top off next month at 420 Carroll St., a 360-unit, amenities-laden, mixed-income rental apartment complex on the Gowanus Canal.
Development principal Thomas Brodsky said: “We look forward to delivering expertly designed, high-quality apartments and exciting local retail to the dynamic Gowanus neighborhood together with Avery Hall Investments.”
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