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Downtown Brooklyn MXD Moves Forward

NEW YORK CITY—“We believe real estate development can be a solution to two problems our city is facing: affordable housing and environmental issues," developer Jonathan F.P. Rose tells GlobeSt.com.

By Rayna Katz | Updated on June 17, 2015

NEW YORK CITY—After securing a pair of cultural tenants, as well as an eatery, Jonathan Rose Cos. has begun construction of BCD:A (Brooklyn Cultural District Apartments), a 121,551-square mixed-use, mixed-income property in the Downtown Brooklyn Cultural District. Construction financing for the roughly $51 million project has been provided by a $28 million construction loan from Citizens Bank.

Appointed through a city-run contest for development of the site, the Rose project is designed to provide more than space, Jonathan Rose Cos. founder Jonathan F.P. Rose tells GlobeSt.com. “We believe real estate development can be a solution to two problems our city is facing: affordable housing and environmental issues.”

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