Upcoming real estate projects are promising to reshape Brooklyn neighborhoods—including Crown Heights, Bed-Stuy, Prospect Heights, Brooklyn Heights, and Downtown Brooklyn. Major developments include the City Council’s approval of the transformative Atlantic Avenue Mixed-Use Plan, which will bring thousands of affordable homes and millions in community investments, the conversion of the historic Hotel Bossert in Brooklyn Heights into residences, a restaurant boom on Montague Street, the arrival of a new wellness center at St. George Tower in Brooklyn Heights, and a proposed 80-story residential skyscraper in Downtown Brooklyn that would become the borough’s second tallest building.
Atlantic Avenue Mixed-Use Plan
The City Council has unanimously approved the Atlantic Avenue Mixed-Use Plan, a transformative rezoning of 21 blocks along Atlantic Avenue—from Vanderbilt to Nostrand Avenues—impacting Crown Heights, Bedford-Stuyvesant, and Prospect Heights. The plan aims to address the city’s housing shortage and displacement during an epic affordability crisis, creating housing for 15,000 people. It will bring nearly 4,600 new homes, including 1,900 (40%) permanently affordable units, to an area currently dominated by low-rise industrial and buildings.
Of those affordable units, 900 will be 100% affordable and reserved for households earning around 50% of the Area Median Income (AMI). Another 1,000 units will be set aside for households making around 60% of the AMI. At 60% AMI, a one-bedroom would rent on average for $1,747, a two-bedroom for $2,097, and a three-bedroom for $2,422 per month. Currently, the average one-bedroom in Crown Heights rents for $3,150, and $2,950 in Bed-Stuy.
The plan also includes over $215 million in community investments: $135 million to redesign Atlantic Avenue for safety improvements and a new bike lane and $100 million for parks and playgrounds. The funding will also provide for job training for local residents and subway station upgrades. Developed by the Department of City Planning with Council Members Crystal Hudson and Chi Ossé, the initiative also promises to create 2,800 permanent jobs. It now heads to Mayor Eric Adams for final approval.
Brooklyn Heights’ Hotel Bossert sold for $100M, to be converted into residences
SomeraRoad, a real estate investment and development firm based in New York City and Nashville, has acquired the historic 1909 Hotel Bossert at 98 Montague Street in Brooklyn Heights for $100 million. The firm plans to convert the long-vacant building at 98 Montague Street into residences—not a hotel—ending years of speculation. Once known as the “Waldorf-Astoria of Brooklyn,” the landmark building has seen multiple failed redevelopment attempts in recent years, including an attempt to restore it as a luxury hotel. SomeraRoad has not yet announced specific plans for the site, but the firm’s has a track record of redeveloping underutilized historic buildings. While the famous Marine Roof rooftop bar and its 360-degree views of Brooklyn and Manhattan is unlikely to return, leaders are hopeful that the building’s restoration will finally breathe new life into the property and continue to revitalize Montague Street.
Restaurant boom in Brooklyn Heights
Speaking of the revitalization of Montague Street, it’s become apparent that Montague—and Brooklyn Heights as a whole—is in the midst of a restaurant boom that has brought new life to the neighborhood. The opening of L’Appartement 4F in 2022, when its viral croissants and consistently long lines signaled a new era for Montague. Since then, the street has welcomed several new spots, including the retro-chic Montague Diner, the Georgian restaurant Chama Mama, and the Alpine-inspired Café Brume. Beyond Montague, the momentum continues: Clover Hill has earned Michelin acclaim, Inga’s has become a new hot spot restaurant and bar, and the newly opened Ferrane, a Swedish bakery, is drawing attention from across the city.
New wellness facility slated for St. George Tower in Brooklyn Heights
A new 52,000-square-foot private health club and wellness center is coming to Brooklyn Heights’ historic St. George Tower, located at 43 Clark Street. Developed through a 29-year lease by East Gate Investors and SC Holdings, the facility will occupy the lower levels, ground floor, and second floor of the 30-story Art Deco building, originally part of the Hotel St. George complex. As of now, there is no publicly announced timeline for the project.
80-story residential tower in the works for Downtown Brooklyn
A new proposals has been unveiled for 395 Flatbush Avenue Extension: an 80-story, 840-foot residential skyscraper that would become the borough’s second-tallest skyscraper. The project includes 1,263 rental units—253 to 279 of which would be affordable housing for those earning up to 80% of the Area Median Income (AMI). The development would also include 66,000 square feet of retail and office space on the first four floors, repurposing an existing mid-century building. The L-shaped tower would feature a brick-and-glass façade, landscaped amenity deck, and a 4,750-square-foot public plaza, plus a new subway entrance for the DeKalb Avenue station. The site, bounded by DeKalb Avenue, Fulton Street, Hudson Avenue, and Flatbush Avenue Extension, is currently zoned for commercial use and will require rezoning to proceed. The development is part of Mayor Eric Adams’ “City of Yes” zoning reform initiative.
Concrete residential towers coming to the Gowanus Canal
Plans for striking residential project have been revealed for 175 3rd Street in Gowanus, featuring over 1,000 apartments—about 250 of them affordable—across 1,080,000 square feet. Designed by Bjarke Ingels Group and dencityworks|architecture, the stepped, 27-story concrete-and-glass towers on 3rd Street between the Gowanus Canal and 3rd Avenue will rise above neighbors including the historic Powerhouse Arts building and Whole Foods across the street. The all-electric development will also include retail, artist spaces, and a 28,000-square-foot public esplanade. This project is part of the broader Gowanus Wharf portfolio—four non-adjacent sites totaling over 2,000 units and 2 million square feet. Construction at 175 3rd Street is expected to begin after nearby projects wrap up next year.
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Updated: June 9, 2025. Main Image: Rendering for Atlantic Avenue Mixed-Use Plan.
