Downtown Brooklyn Welcomes Ashland

The transformation of Brooklyn’s cultural center has taken a huge step forward with the opening of the Ashland residential tower. The tower is located at the meeting point of Fort Greene and Downtown Brooklyn, where the cultural institutions are located with the Brooklyn Academy of Music as the anchor.

New York has spent over $100 million in public spaces and arts organizations found there. New developments are sprouting up as affordable housing, retail, and office space grow.

Ashland is 53 stories with 304 full-rate apartments sprinkled with 282 affordable units. They range in size studios to three-bedroom apartments with monthly rents for market-rate apartments starting at $2,600 and three bedrooms going for as much as $7,500.

The affordable units are distributed by lottery. They will start at $801 for a studio, and a three-bedroom unit will cost $3,649 for a three-person household making between $126,995 and $155,400 a year. There were 82,262 applicants for the affordable apartments.

“The location is incredible, as you have beautiful Fort Greene as your front yard, Downtown Brooklyn to the west, and you have all the cultural offerings literally right outside your door,” said David L. Picket, the president of the Gotham Organization, the developer of the building.”