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Real Estate and Commercial Development
Restoration works to preserve and expand the community's affordable and mixed-income housing stalk, partnering with developers and the city to create inclusive, sustainable, and community-driven projects.
From its inception, Restoration has remained an ardent advocate for the preservation and development of affordable housing in Central Brooklyn. We partner with for-profit developers and government agencies to maintain and improve the affordable housing stock in Central Brooklyn, working to ensure that Bed Stuy remains an accessible, mixed-income community.
We remain committed to the belief that residents should be able to determine the outcomes in their own communities and pressure city officials and financial institutions alike to create a more inclusive and equitable development process.
In 2019, Restoration rehabilitated Fulton Street Houses, consisting of 33 units of low income housing and 1,000 square feet of retail that delivers medical services to the community. Restoration collaborates with Bridgestreet, IMPACCT and St. Nicks in a partnership supported by the Joint Ownership Entity of New York City. The project brings innovations such as community art—a togetherness mural by Alice Mizrahi—and green energy via the installation of rooftop solar panels by the WAP team.
Working with HPD and Almat Urban, we will develop 44 units of permanently affordable homeownership in a mixed-use project on Fulton Street. The limited equity condominiums will allow owners to develop a measure of equity, keeping the project in line with our strategic direction of closing the racial wealth gap.
We have partnered with Totem to develop 1045 Atlantic Avenue, a mixed-use property that will contain 420 units of housing, 126 of which will be permanently affordable housing. The building is planned to be all electric and will include innovative features such as a Community Fund and Community Benefit Agreement.
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