NEW YORK — Gilbane Development, in partnership with Blue Sea Development, Artspace and the City and State of New York, has secured $254 million to finance the development of a mixed-use, affordable housing property in Brooklyn’s Brownsville neighborhood.
Brownsville Arts Center & Apartments (BACA) will include about 263,000 square feet of residential space and a 28,000-square-foot arts center, which will include a 3,440-square-foot multi-purpose performance, rehearsal and studio space for community arts groups.
BACA’s unit count is 283 in a mix of studios to three-bedroom apartments renting to households earning between 30 and 70 percent of area median income, including dedicated units for formerly homeless individuals.
BACA’s being developed on a vacant, city-owned lot awarded for development through a New York City Housing Preservation and Development (HPD) RFP process. The financing includes approximately $100 million from the City of New York.
Gilbane Building is the general contractor, and Aufgang is the architect. BACA will be built to Passive House and LEED Platinum standards. Construction is underway with completion slated for December 2027.