Coming on Fourth Ave. between Dean and Pacific, a block from Site 5: a 16-story building

When I wrote in February 2019 about the long-delayed (and, now, still percolating) plans for a giant tower at Site 5, longtime home to Modell's and P.C. Richard, I published a photo (right) looking northeast across Fourth Avenue, with Site 5 toward the left.

That view was not to last--but not because of swift changes at Site 5.

The historic Pacific Branch of the Brooklyn Public Library, just below Pacific Street, will remain intact. A 25-story building was approved for Site 5 in 2006, but Atlantic Yards/Pacific Park developer Greenland Forest City Partners has for at least five years planned to shift the bulk of the unbuilt "Miss Brooklyn"--the flagship office tower planned for what's not the arena plaza--across Flatbush Avenue.

That could create a giant two-tower project stretching--at as of 2016 proposals--nearly 800 feet. The bulk transfer process, which requires a change to the guiding project plan and thus a process including public hearings and approval by the gubernatorially-controlled Empire State Development, might begin next year, we learned at Monday's meeting of the Atlantic Yards Community Development Corporation..

A block away

S. Wieder Architects, via NY YIMBY

Meanwhile, a block away, on the east side of Fourth Avenue above Dean Street, just below the library, change is coming.

That parcel, long a two-story office building (Block 928, Lot 1) housing a Medicaid office, was sold for $25 million, Brownstoner reported 6/5/14, noting that the 18,000-square-foot property "has up to 108,000 square feet in development rights," enabling a much larger building.

Noted Brownster, "the signatory on the mortgage is Joseph Brunner, a Brooklyn investor who recently sold the much-maligned Viridian apartment building in Greenpoint." Brunner, the Real Deal reported 8/22/16, is one of "Hasidic Brooklyn’s real estate machers."

On 10/3/20, New York YIMBY reported that permits were filed for a 12-story mixed-use building at 35 Fourth Avenue:

The proposed 125-foot-tall development will yield 132,112 square feet, with 69,827 square feet designated for residential space, 8,791 square feet for commercial space, and 1,097 for community facility space. The building will have 104 residences, most likely rentals based on the average unit scope of 671 square feet. The concrete-based structure will also have a cellar, a 33-foot-long rear yard, and 48 enclosed parking spaces.

On 12/21/21, New York YIMBY published renderings (above) of a 16-story building with "cantilevered balconies, recessed outdoor spaces, and a large outdoor terrace." It continues a march of towers along broad Fourth Avenue.

The site has been under demolition, as shown in the photo that I took yesterday, which shows the Williamsburgh Savings Bank (One Hanson Place) at left, and 18 Sixth Ave. (B3, Brooklyn Crossing) at center right, both about 511' tall and with far less bulk than the proposed Site 5 project.

More on 35 Fourth

From ACRIS

Financial documents posted on ACRIS suggest some $58 million in loans, as well as participation in the 421-a tax break, which should yield affordable housing. 

Nothing has been announced, but the most common choice for developers has been 30% affordability at 130% of Area Median Income (AMI), which yields middle-class units relatively close to market price.