Construction is set to begin next month on the Atlantic Chestnut project in East New York, reports Brooklyn Paper.
The project, occupying the block bound by Atlantic and Euclid Aves and Fulton and Chestnut streets, is developed by Phipps Houses. The developer secured $217 million in funding from the city and Wells Fargo.
The building will include 14 floors and the apartments are 100 percent affordable, with no market-rate units. It will also have commercial space, open space and community amenities for residents, including a rooftop deck and a courtyard, and 200 parking spots.
The building is set to complete in 2023.
Phipps Houses also plans to build two more buildings on the site.