New York-based real estate firm BRP Companies, along with the New York City Economic Development Corporation (NYCEDC), the Department of Housing Preservation and Development (HPD) and the New York City Housing Development Corporation (HDC) on Monday announced the opening of an affordable housing lottery for 254-units at Caton Flats, a new 14-story development in Flatbush, Brooklyn.
BRP Companies said Caton Flats will include more than 20,000 square feet of community space, 8,500 square feet of retail space, and will feature apartments ranging from studios to three-bedrooms available to households earning between 40 and 165 percent of the area median income (AMI).
Monthly rents start at $567/month for studio apartments, $717/month for one-bedroom apartments, $854/month for two-bedroom apartments and $978/month for three-bedroom apartments,” BRP Companies said.
“We’re thrilled to announce the launch of leasing at Caton Flats as the development nears completion and deliver this much-needed affordable housing option to the Flatbush community,” said Meredith Marshall, co-founder and managing partner of BRP Companies.
“Caton Flats symbolizes a true partnership and commitment between multiple community groups and local leaders aimed at serving the Flatbush community, and we’re looking forward to welcoming prospective residents into their new homes,” Marshall added.
BRP Companies said the 254 affordable units feature open concept kitchen layouts, quartz countertops, stainless steel appliances and floor to ceiling windows.
Additional building amenities offered to residents include an attended lobby, remote doorman service, an outdoor terrace, interior courtyard, fitness center, outdoor yoga area, resident lounge, a card-operated laundry room, package room, elevator and bike storage, as well as an on-site super and resident manager.
BRP Companies said there is also onsite attended parking, with electric charging stations (at an additional cost).
The building is LEED certified and pet-friendly, said BRP Companies, adding that MNS and Wavecrest Management are leading the leasing efforts at the property.
“Being so close to the park is a major selling point for 800 Flatbush and exactly what people are looking for post-COVID,” said Andrew Barrocas, chief executive officer of MNS.
“In addition to 254 affordable homes, community space and retail, Caton Flats will serve as the future home for the Flatbush Caton Market – a vibrant and essential cornerstone of the community,” said HDC President Eric Enderlin. “I encourage all eligible New Yorkers to apply to the lottery being launched today on NYC Housing Connect.”
BRP Companies said Caton Flats will now become the permanent home for the Flatbush Caton Market, an indoor marketplace through which a variety of Caribbean small business micro-entrepreneurs have been operating year-round since 2000.
The company said the 16,000-square-foot market is inclusive of upgraded amenities for the market’s existing vendors, as well as an expanded space for food vendors, a bar, café and a shared commercial kitchen for business incubators to utizilize.
Additionally, the building contains supplemental community space that will be owned and operated by the Caribbean American Chamber of Commerce and Industry (CACCI) and over 8,000 square feet of retail, BRP Companies said.
Located at the intersection of Caton and Flatbush Avenues, it said Caton Flats is located in the heart of Flatbush, “providing multiple grocery, retail, transportation and food and beverage offerings to the community.
Recent BRP Companies project milestones include the completion of The Crossing at Jamaica Station, a 669-unit, 100 percent affordable residential building located in Jamaica, Queens.
BRP Companies said it was chosen as one of the project developers for the new National Urban League headquarters in Harlem.
There, it said 171 units of affordable housing will be developed and delivered to the surrounding Harlem community. Construction is currently underway.
Additionally, BRP Companies said it was recently chosen to develop 590-units of housing, 206 of which will be deemed affordable on the Jersey City Bayfront following a competitive response for proposal (RFP) response to the city. This project is part of the master Bayfront Redevelopment Project in Jersey City.