363 Bond Street

affordable housing, Gowanus, housing lotteries

363 Bond Street, Gowanus Canal buildings, Gowanus development, Lightstone Group

363 Bond Street, via Lightstone Group

When the Lightstone Group revealed their two-building, 700-unit, $350 million rental project at 363-365 Bond Street, right on the banks of the notoriously toxic Gowanus Canal, president Mitchell Hochberg said it was inspired by a residential project in the Canal Saint-Martin neighborhood in Paris that helped create a “newly hip atmosphere” near a similarly polluted waterway. Despite the area’s Superfund status, the promise of living in a trendy, up-and-coming area surely appealed to many; when the lottery opened for the 86 affordable units at #365, nearly 60,000 people applied. Now, the lottery is opening for the 54 below-market rate apartments at the under-construction #363, ranging from $833/month studios to $1,082/two-bedrooms, available to those earning 60 percent of the area median income.

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Gowanus, New Developments, Rentals

363 Bond Street, 365 Bond Street, Lightstone Group, Gowanus, Gowanus Canal,

363-365 Bond Street, via Lightstone Group

One of the Lightstone Group‘s two new rental buildings in Brooklyn’s Gowanus neighborhood is set to open Tuesday. The new residence at 365 Bond Street, along with its neighbor at 363 Bond (a year from completion) represent a $350 million effort by the developer to build 700 luxury rental apartments on the left bank of the Gowanus Canal. Designed to look like an historic brick-walled warehouse, market-rate apartments at 365 Bond start at over $2,000 a month for a studio and over $3,000 for a one-bedroom unit, according to the Wall Street Journal. Lightstone President Mitchell Hochberg says the project was inspired by the Canal Saint-Martin neighborhood in Paris, known for a residential project near a similarly polluted waterway which helped create a “newly hip atmosphere.”

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