Eight-Story Affordable Building Rises on Franklin Avenue in Bed Stuy

Construction of this eight-story affordable apartment building is chugging along at 482 Franklin Avenue in Bed Stuy. We found this rendering designed by Aufgang Subotovsky Architecture on the fence at the site between Jefferson Avenue and Hancock Street. (Fortunately, it doesn’t look like this.)

We checked on the site last summer when construction first started, and now seven stories have risen and windows are going in on the lower floors. The building will house 100 units spread over 68,486 square feet, along with 33 enclosed parking spaces and 47 bike storage spots, according to new building permits.

Amenities will include a gym on the ground floor and recreation space in the cellar. The mixed-income development is a joint venture between Realty Within Reach and Joy Construction Corp., according to this press release from the city’s Housing Development Corporation. The apartments will be studios, one- and two-bedrooms.

Since the press release calls for 93 units, not 100, the income distribution might shift slightly from these numbers: “Three units will be targeted to tenants earning up to 40 percent of the Area Median Income (AMI), currently $33,200 for a family of four; 16 units will be reserved for tenants earning up to 50 percent AMI ($41,500 for a family of four); and 73 units will be targeted for middle-income tenants with rents set at 130 percent AMI (currently, $107,900 for a family of four) and incomes up to 175 percent AMI ($145,250 for a family of four).”

Click through to see a construction photo.

Affordable Housing Going up at 482 Franklin Avenue in Bed Stuy [Brownstoner] GMAP