The Arker Cos. completes $ 425 million Brooklyn project

The cut of the Fontaines ribbon. Image courtesy of Governor Hochul’s Press Office

A partnership including The Arker Cos., Empire State Development Corp. and New York State Homes and Community Renewal (UNHCR) completed The Fountains, a $ 425 million redevelopment project in Brooklyn’s East New York neighborhood.

The redevelopment includes 1,163 affordable units, of which 192 are reserved for residences with support services for residents with intellectual or developmental disabilities, as well as 200 units serving as housing for the elderly.

The project breathes new life into the 35-acre Brooklyn Developmental Center, which served as a residential care and treatment center between 1973 and 2015. The New York State Dormitory Authority sold the property for $ 10 million. dollars to developer, The Arker Cos.

To look closer

Built in multiple stages, with the opening of the first stage last October, The Fountains includes:

  • 894 Fountain Ave., the largest property, with 422 affordable units
  • 11629 Seaview Avenue, a six-story building with 65 affordable units
  • a nine-story building with 267 affordable apartments at 911 Erskine Street
  • 10 Schroeder’s Walk, offering 200 units, available to residents 62 and over
  • another nine-story building at 702 avenue Vandalia, with 65 affordable apartments
  • 881 Erksine Street, 144 units, spanning nine floors

While the majority of apartments serve residents earning up to 60 percent of the region’s median income, 85 units are available for those earning 100 percent of the MAI or less. The six-building community has achieved Enterprise Green Community and Energy Star certifications.

The project also includes 21,700 square feet of commercial space, with the New York State Office for People with Developmental Disabilities as one of the tenants. The OPWDD also funds on-site support services provided by the Block Institute, which aims to help residents live independently.

The Fountains includes Schroeder’s Walk, a 1 acre public plaza. Adjacent to Shirley Chisholm Park, featuring hiking and biking trails, the mixed-use development is within walking distance of the Gateway Drive commercial corridor. Downtown Brooklyn is approximately 10 miles away.

Funding Details

New York State Homes and Community Renewal has provided a financial package in the amount of $ 216 million. Other funders include the OPWDD, the New York State Energy Research and Development Authority, and the New York City Department of Housing Preservation and Development.

The Fountains is part of the $ 1.4 billion Vital Brooklyn initiative launched in 2017. In July, Empire State Development Corp. partnered with UNHCR and the nonprofit Breaking Ground to develop 900 affordable units in Brooklyn. The $ 400 million redevelopment of the former Kingsboro Psychiatric Center is also part of the initiative.

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