Mayor Eric Adams' administration is transforming the 7-story office building at 395 Flatbush Ave. in Brooklyn into a towering 72-story residential structure. This project, part of the 'City of Yes' initiative, aims to produce 1,200 housing units, with 25% to 30% set aside for affordable housing targeting households earning 60% to 80% of the area median income. City officials emphasize that the development will not use city funds for affordability, relying instead on new tax incentives. The project is positioned to significantly reshape the area's skyline and address housing demand.
In its place, we're going to build 1,200 new units of high-density mixed-use housing; the new 395 Flatbush will be a major addition to the skyline.
The building would also house formerly homeless residents, while aiming to maintain 25% to 30% affordable housing for families earning 60% to 80% of area median income.
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