Construction Crews Break Ground At BAM North Site At 15 Lafayette Avenue

Construction has finally broken ground at 15 Lafayette Avenue, aka BAM North, where a 12-story, 109-unit building with 40 percent affordable/below-market-rate housing is planned, with an estimated open date next year in 2016.

The housing price breakdown comes out to 20 percent of units for families with 80 percent of the area median income (AMI), 20 percent at 130 percent AMI (maximum salary of $48,100-$78,260).

As we reported two years ago, the site will also include two floors for a restaurant and science and art programs. And as Brownstoner, there will also be 21,400 square feet of cultural community space, to be occupied by The Center for Fiction and Mark Morris Dance Group.

The site’s development came under scrutiny this past February when the city sold the lot of prime real estate for a mere $1 to Jonathan Rose Companies, in exchange for the allocation of 40 percent of units for affordable prices for the next 30 years.