Architect Raymond Chan and his team of Chinese developers are planning an enormous mixed-use development on Eighth Avenue between 61st and 64th streets in Sunset Park.
If approved, the Eighth Avenue Center would include a 3-story Chelsea Market style shopping mall, a 10-story hotel with roughly 150 rooms, and two 15-story residential towers. The development will tower over the buildings in the area. Most buildings in the area are 4-stories high and the taller buildings are 8-stories. Chan plans to minimize impact on the traffic of the area by having parking and unloading for the center underground.
Chan and the group of developers purchased the site from Andrew Kohen for $51.5 million in May and was one of the highest investment sales in Brooklyn this year. The zoning variance obtained by Cohen will have to be renewed. Kohen’s previously planned project won approval from the community board after agreeing to make 20 percent of the units below-market. The neighborhood relies on small businesses, so the new proposal approval will be depend on whether plans fit the business culture of Eighth Avenue.
The Eight Avenue neighborhood is rapidly growing Chinese neighborhood and there is business potential if the parking and traffic issues can be resolved. Blueprints for the project show computer-operated underground garages. These garages will provide low price parking to the community and will be open to the public to help with the parking shortage in the neighborhood.
Chan sees Eighth Avenue today as Flushing 15 years ago. Eighth Avenue Center will raise the status of the neighborhood with the additions of more modern buildings.
In Williamsburg, Jed Walentas, developer of the Domino mega-project, revealed plans for a community center that include an indoor swimming pool and basketball courts. Walentas also promised that the approximate 700 affordable units would be comparable in size to the 1,600 market rate units. These affordable units will be evenly distributed throughout the buildings. The first building will contain 105 affordable apartments. People who earn 40 to 50 percent of median income- $20,109 to $24,080 and $25,564 to $30,100-qualify for a studio which will rent $553 to $703 per month based on income percentage qualifications. One-bedrooms in the building will rent for $595 to $765, and a two-bedroom for $723 to $916.