39-Unit Affordable Housing Building Is Officially Coming To 1041-1047 Fulton Street

The already-demolished site at 1041-1047 Fulton Street, between Downing Street and Irving Place, is slated to become a 39-unit ALL affordable building developed by Hudson Companies — a result of a deal between Hudson, the Brooklyn Public Library (BPL), and the city where Hudson builds affordable housing in exchange for the right to redevelop the Brooklyn Heights Library site at 280 Cadman Plaza West.

According to Brownstoner, Hudson officially acquired the Clinton Hill site for $7,2 million this past May 21, “under the name Athena Housing Associates.”

The site was formerly home to Fairhaven Funeral Chapel.

An additional 77 units of affordable housing will also be developed at 911-917 Atlantic Avenue (between St. James Place and Grand Avenue) by Hudson as part of the library deal. Both projects will be designed by Marvel Architects.

In addition, “the affordable units will be 100% privately financed and will be built without using city or state capital subsidy, without federal tax credits and without low-interest subsidy financing,” noted BPL in a statement released this past March when the Fulton Street and Atlantic Avenue site contracts were initially granted.

As for the Brooklyn Heights site, the contentious $52 million sale is slated to produce a new, smaller library space with retail space and 132 luxury apartments on top. Funds from the sale will also go towards library renovations and projects in other BPL branches.