Sunset Park Library and affordable housing development/ Architectural rendering courtesy of Magnusson Architecture and Planning
NEW YORK CITY—Fifth Avenue Committee, a nonprofit community development organization in South Brooklyn, and the Brooklyn Public Library are turning a concept in “shared-use” spaces into a brick-and-mortar reality.
Using the core and shell of the Sunset Park branch of the Brooklyn Public Library, a new eight-story building will be built, expanding and modernizing the library, then adding 49 new units of permanently affordable housing on the upper floors. The project will be at 4201 Fourth Ave.
Built in 1927, the current library became too small to accommodate the neighborhood's growing population. Estimated repairs would cost $6 million. The new facility will be almost double in size, expanding to 20,000 square feet.
The affordable housing will consist of studios, one-, two-, and three-bedroom apartments. It will be 100% affordable, with units for incomes spanning 30% to 80% of Area Median Income. The majority of the units will be reserved for incomes at or below 50% of AMI. Most apartments will have tenants paying rent of $500 to $1,000 per month. A minimum of 50% of the apartments will be reserved for neighborhood residents,10% for city employees and 5% for the physically disabled.
The project is being financed with $35.5 million in public and private investments. The Brooklyn Public Library will fit out the new library for approximately $10 million. It will use proceeds from the development of the Brooklyn Heights branch. The City will own the library in perpetuity.
New York State Homes and Community Renewal provided an allocation of federal and state low income housing tax credits, which were purchased by the National Equity Fund, providing over $10 million in equity funding, with an additional $60,000 in equity through their purchase of solar tax credits. NYS HCR is also providing $1.5 million from their community investment fund towards building the library.
New York City's Department of Housing Preservation and Development is providing more than $8.75 million in subsidies for the project. City council member Carlos Menchaca and the Brooklyn Delegation City Council are providing $3.15 million. Brooklyn borough president Eric L. Adams is providing $500,000 in capital funding.
“Sunset Park is one of our busiest branches, with dozens of outstanding programs and classes every week,” says Brooklyn Public Library president and CEO Linda E. Johnson. “We are thrilled to provide the patrons with a bright, up-to-date, comfortable space where they can come together to read and learn.”
Michelle de la Uz, executive director of Fifth Avenue Committee says, “The Sunset Park Library and Affordable Housing project is the realization of a vision for deeply and permanently affordable housing and an expanded and modernized public library for a community that desperately needs and deserves both.”
The building architect is Magnusson Architecture and Planning. The architect of the library space is Mitchell Giurgola. A groundbreaking ceremony nearby at St. Andrew's Episcopal Church at 4917 4th Ave. in Sunset Park is scheduled for today at 11:00 am. The development is expected to be completed in December 2020.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
