Called River Ring, it spans a mighty 1050 units. The project is the brainchild of Two Trees Development, best known for starting the Dumbo real estate revolution over thirty years ago. They announced in early December that they had struck a deal with the city council to bring their towering curvy condo vision to the Williamsburg waterfront.
The project passed through the community board, borough president, City Planning Commission, and City Council at the breakneck speed of 4 months thanks to a series of concessions to include 150 units of senior housing and $1.7 million dedicated towards neighborhood environmental improvements. Aside from the 2,000 construction jobs, there will be 500 well-paying permanent jobs including those in a new 50,000 square foot YMCA facility and retail stores.
Here are a few facts about the River Ring Development:
- There will be two curving towers comprising of 1050 new homes including 263 affordable homes priced at 60% and 40% of the AMI (Area Median Income).
- The development repurposes a former industrial site.
- It will complete a continuous public waterfront in North Brooklyn
- The plan is anchored by a public beach and in-water park, designed to insulate the inland community from flooding which will also foster aquatic activities such as kayaking.
- A new waterfront park will include three acres of public open space and three acres of protected in-water access.
It turns out that River Ring isn’t the only patch of land destined for sparkling new buildings in Williamsburg. A slew of new developments, albeit, far smaller than the Two Trees mega build, including hotels, rentals, and condos, are taking or have taken to the skies in the highly desirable Brooklyn neighborhood.
These include:
215 North 10th Street: Known dramatically as “NX”, this sleek condo development is now finished and ramping up sales. It’s perfectly suited to owners who prefer to be in a smaller development, as this contains 31 spacious units consisting of one-to-three bedroom units starting at $930K and going to $2.645M. Amenities include a fitness center, shuffleboard court, outdoor grills and kitchens, and a parking garage.
Rose Castle, 33 Nassau Street: A 9 story mixed-use building comprising 86 residences of which 59 are for residents earning 70-130 percent of the AMI. Details for these units can be found on NYC’s affordable lottery website, NYC Housing Connect.
Moxy Hotel, 353 Bedford Avenue: This 11-story hotel will contain a total of 216 hotel rooms and is in a prime location, between 4th and 5th Streets and a short walk to the East River waterfront and Domino Park esplanade.
124 Withers Street: This five-story residential building will span just over 13,000 square feet with 14 one-bedroom units.
40 Debevoise Street: This eight-story building is 100% affordable housing property for senior citizens.
760 Metropolitan Avenue: Permits were recently filed for a six-story residential building, steps away from the L Train’s Graham Avenue subway station. No word yet on the building’s designation though the unit size appears to favor rentals.
566 Grand Street: Permits have been filed for an eight-story residential building located between Lorimer Street and Union Avenue. No word yet on the designation, but they are thought to be rentals based on the unit size.
