Location: Brooklyn Hospital/Long Island University
A development proposal furnished by MedDev in association with Frauenshu Medical Developers of Minnesota, and SJP Properties of NYC and Parsippany, to develop over 1.2 mill sq ft of medical office building, university classroom and meeting space, structured parking and over 550 units of market based housing in this mixed use development plan
Through MedDev firm principals have an investing interest in this undertaking and the development schemes were developed by KG Urban Studio as an as of right development program under NYC zoning law.
Sites encompass the land area consisting of two blocks of downtown Brooklyn, from Ft Green Park on the east, Willoughby Street to the north, DeKalb Avenue to the south and Flatbush and Flatbush extension to the west.
Given the extremely active residential market in downtown Brooklyn, this plan was envisioned by MedDev as a way to develop needed capital for each institution through the sale of some 1.0 mil sf in development rights (FAR) through transfer rights and planned to represent an approximate $120 mil infusion into each institution’s bottom line.