Australian real estate and construction giant Lendlease is planning a mixed-use project on a waterfront site in Brooklyn's Greenpoint neighborhood, reports The Real Deal.
The 2.9-acre project site at 1 Java Street, which Lendlease and its partner Aware Super purchased last year for $110.8 million, is primed for the construction of a 14-story edifice featuring 477 apartments and 12,000 square feet of retail space, says TRD, citing new plans filed for the site.
Construction of the new project could begin as early as late 2022 or early 2023, with completion set to occur in early 2026.
The current proposal may just be the start, however. Lendlease plans to eventually build roughly 850 residential units on the site, accompanied by 15,000 square feet of retail and a waterfront esplanade. That plan would be in line with an earlier proposal for the site proposed by prior owners JZ Capital Partners and Stiles Properties.
Other projects planned or under construction nearby in Greenpoint include the proposed expansion of Acme Smoked Fish's headquarters facility, as well as Brookfield's Greenpoint Landing towers.
The Brooklyn project is not the first time (nor the last) that Lendlease and Aware Super have teamed up on a large mixed-use development - across the county in Los Angeles, the two firms are planning an office and housing complex near Culver City. That project is also expected to begin construction around early 2023.
- Greenpoint (Urbanize NYC)