"Major transformation is on the horizon for a low-income apartment complex notable for its three-story-high buildings with distinctive Dutch stepped gables occupying a superblock on the southeastern edge of Bed Stuy. Developers have filed to rezone the property, known as Fulton Park, to make way for a mega-development with up to a dozen buildings reaching 17 stories and holding upwards of 2,000 market-rate and affordable apartments."
"Two new buildings would be constructed to replace the existing housing units and one of the replacement buildings is expected to be built first on part of the vacant portion of the Fulton Park site. That would allow residents living in the southern portion of the site to move directly into newly built apartments without an interim relocation, according to a rep from L+M, who added those tenant"
L+M Development Partners and SMJ Development, with the city's Department of Housing Preservation and Development, filed to rezone 1754 Fulton Street and 53 Utica Avenue for a large-scale residential redevelopment. The plan would demolish 37 existing buildings that contain 209 Section 8 affordable apartments and construct up to a dozen new buildings up to 17 stories tall. The proposal would create roughly 2,000 market-rate and affordable units with potentially half designated affordable. The project includes retail and community facility space, improved site layout and phased replacement buildings to allow some residents to move directly into new units at the same rent.
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