New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Brownsville Arts Center & Apartments Reaches Financial Close
Gilbane Development, in partnership with Blue Sea Development, Artspace, and the City and State of New York, has closed on financing of the Brownsville Arts Center & Apartments (BACA). The $254 million in funding marks a major step forward in bringing affordable housing and community-centered space to Brooklyn’s Brownsville neighborhood.
Located at 366 Rockaway Ave., BACA will deliver nearly 263,000 square feet of residential space and a 28,000-square-foot cultural arts center. With 283 new affordable rental apartments, the project will offer a mix of studios to three-bedroom units.
“This project goes beyond housing—it’s a cultural and residential anchor that will uplift and inspire Brownsville for years to come,” said Yarojin Robinson, SVP, affordable & mixed-income housing, Gilbane Development. “We’re proud to partner with Blue Sea Development and Artspace to bring this vision to life, made possible in no small part thanks to the vital financial support from both the City and the State.”
- ◦Development
- ◦Financing
