Rabsky Group to create 100 affordable housing units at Rheingold Brewery development

Brooklyn, NY The Rabsky Group has signed a regulatory agreement with the New York City Department of Housing Preservation and Development (HPD), committing to create 100 much-needed affordable housing units through the city’s Inclusionary Housing program at their project located at 10 Montieth St. in Bushwick. This approval is the culmination of the HPD review process, which is a key aspect of the 500-unit rental project’s development.

The redevelopment of the former Rheingold Brewery site will help fulfill the de Blasio administration’s goal to create or preserve 200,000 units of affordable housing, by providing 20 percent of the units available to New Yorkers making 60% or less of the area median income.

The 10 Montieth St. project joins Rabsky’s fast-growing portfolio of affordable housing developments, which includes two projects co-developed with DunnDevelopment Corp.: The Frost St. Apartments at 59 Frost St. and The Meekerman at 410 Manhattan Ave. The two projects – both of which are located in the Williamsburg neighborhood – total 79 units of affordable housing and additional 16 units for adults with developmental or intellectual disabilities.

 “There is a tremendous and urgent need for housing to accommodate a broad range of income levels in Brooklyn and across the city,” said Simon Dushinsky, co-owner of the Rabsky Group. “We are excited to play a role in meeting this need and to reactivate this site for productive use for the community.”

Following a Request for Proposals, the Housing Partnership DevelopmentCorporation was selected by the Rabsky Group and approved by the New York City Department of Housing Preservation and Development to act as the independent administering agent responsible for the marketing and lease-up of the affordable units. The organization will also ensure that upon each subsequent vacancy the units are being leased in accordance with the program on an ongoing basis. 

Designed by ODA New York, the eight-story, 400,000 s/f residential complex will include a myriad of amenities throughout the building including a gym, yoga studio, squash courts, climbing wall, library, pet spa, roof gardens, sun deck, amphitheater, and bocce court.

Construction at the site commenced in the spring of 2015 and the building is projected to open in the summer of 2018. Marketing of the affordable housing units is estimated to begin by the close of 2017.