Real Estate companies, brokers and agents in Brooklyn have witnessed the rezoning of many Brooklyn neighborhoods such as Williamsburg, Downtown Brooklyn, Greenpoint and Bushwick. This rezoning has brought about a tremendous boom in residential, commercial, multi family and mixed use development projects to these neighborhoods. The Department of City Planning proposed rezoning of East New York will allow 12-14 story mixed use development projects along 30 blocks along Atlantic Avenue from Pennsylvania Avenue to Conduit Boulevard.The main commercial streets in East New York are Fulton Street, Pitkin Avenue and Liberty Avenue. Residential and retail, mixed use projects would be encouraged for a size range of between 6 to 8 stories and higher in some cases.
The hope of City Planning is that if the proposed East New York rezoning plan is agreed upon that developers will come and focus their attention there. The subway lines involved in these areas are the A, C, J, Z, and L trains. The rezoning will require that there be an affordable housing component to all new construction. The rezoning plan must go through a public review process and a city council vote.
For more information on East New York Real Estate call us at 718-375-2065.
If you are planning to sell your Brooklyn property whether residential, commercial, mixed use, multi family or development opportunity please contact us. You will be very happy that you did.