BROOKLYN
AFFORDABLE HOUSING DELIVERIES 2019 - 2024
Sincethe2004rezoning,DowntownBrooklynhas quietlybecomeoneofthecity’slargestproducersof affordablehousing.Over2,500affordablehousing unitswerebuiltinDowntownBrooklynacross25 projectsbetween2019and 2024,andanother1,005 affordableunitsbuiltinthefirsthalfof2025.Intotal, theneighborhoodhasadded5,759affordablehomes since2004,overfourtimesthenumberof market-rate units thatexistedbeforetherezoning.Althoughnearly 21,000market-rateapartmentshavebeenbuiltin DowntownBrooklynsincethen,thatgrowthhasalso supportedsignificantaffordablehousingproduction, ensuringthecommunityremainsaccessibletolowandmoderate-incomehouseholds.Oftheaffordable unitsbuiltinthepastfiveyears,nearlyhalfare reservedforlow-income,verylow-income,and extremelylow-incomefamilies.
Source: DCP Housing Database
Photo: Alloy Block (505 State Street) Credit: Pavel Bendov
Photo: The Everly
RecentzoningreformsundertheCityofYes,alongsidechangesinstatetaxincentiveprograms, areexpectedtoreshapedevelopmentinDowntownBrooklyn.Theexpirationofthe421-atax incentiveinJune2022setadeadlineforprojectstobeginconstructioninordertoqualify,whichled toasurgeofnewstartsatthattime.Manyofthoseprojectsarenowreachingcompletion,resulting inarecordyearforhousingdevelopmentinDowntownBrooklyn,withover4,886unitsexpectedto becompletedin2025-includingmorethan1,400affordableunits.With421-anolongeravailable, the485-xprogramhastakenitsplace,linkingconstructionwagerequirementstoprojectsize, exemptingbuildingsunder100units,andimposinghigherwagethresholdsonlargerprojects.
DowntownBrooklyn’ssuccessislargelydrivenbytheabilitytosupportlarge-scaleprojects,which average222.TheCityofYesreformsarebeginningtoexpanddevelopmentcapacityevenmore, exemplifiedbyRabina’s395FlatbushAveExt.proposal,nowinULURP,whichwoulddeliver1,263 apartments,including350affordableunits.Atthesametime,underthenew485-xprogram,
smallerdevelopmentsunder100unitsarebecomingmorefavorable.Thisshiftisalreadyvisiblein thepipeline,withmultipleprojectsthatinclude99units-suchas275Flatbush,48Hoyt,and150 Lawrence-adirectresponseto485-x.Together,thesedynamicssuggestthatwhileinvestment approachesareshifting,DowntownBrooklyn remainswell-positionedtocontinue contributingmeaningfullytothecity’s affordablehousinggoals.
Foradditionalinformation,visittheDowntown BrooklynDevelopmentDashboardorcontact realestate@downtownbrooklyn.com.
Photo: The Brooklyn Tower
Photo: 9 Chapel St