A former Key Food site in Brooklyn is up for redevelopment with housing.

Commercial Observer reports that Goose Property Management has secured a $86.7-million loan for the acquisition and construction of a 175,000-square-foot development located at 575 Grand Street in Williamsburg. The proposed project would include 186 residential units, with 30 percent of that total to be set aside as affordable housing.

575 Grand StreetGoogle Street View

A rendering of the project at 575 Grand depicts a contemporary eight-story building.

Goose Property Management, based out of Brooklyn, reportedly paid $42.5 million to purchase the property from Tapps Supermarkets.

SCALE Lending provided the debt package for the project.