Park Slope development with 305 new apartments approved by City Council

Park Slope will soon see the addition of two high-rise rentals, bringing more than 300 new apartments to the neighborhood. The City Council last month approved a rezoning application from Stellar Management to construct two new buildings at 341 10th Street, in addition to the existing apartment building on the site the developer already owns. The project includes new 17- and 19-story buildings that would wrap around the subway covering where the F and G trains go below ground, as The Real Deal reported. The project adds 305 new apartments, 162 of which will be income-restricted, bringing the total number of units from 154 to 459 at the property.

The site is challenging to develop because of subway tracks that travel through the site, going from above ground over 4th Avenue to under 9th Street. Many buildings on the block were demolished during the subway’s construction in the 1930s, leaving large frontages on 9th and 10th Streets as parking lots and vacant land.

The existing building includes 12-story and 18-story sections and measures 170,000 square feet. The new buildings will add 234,000 square feet of residential space, 6,500 square feet for retail, and roughly 4,500 square feet for a community facility, likely medical offices, according to The Real Deal. The new retail spaces will be prioritized for local small businesses and non-profit organizations.

The new building facing 9th Street will include 100 affordable units and the new building on 10th Street will have 205 apartments, with 62 units designated as affordable.

“We applaud Council Members Alexa Avilés and Shahana Hanif, the Prospect Towers Tenant Association, the Fifth Avenue Committee, and the Department of City Planning for their leadership in helping address our housing crisis by advancing this important multigenerational community,” Benjamin Rubenstein of Stellar Management said in a statement.

“This challenging site required the coordination of many experts and local stakeholders to develop a creative proposal that preserves and generates deeply affordable housing in Park Slope. Stellar Management is firmly committed to offering affordable housing solutions in New York City.”

The development will also feature a publicly accessible 15,000-square-foot green space with shaded play areas and space for community gardening. Six curb cuts will be eliminated, providing more street parking for residents and making sidewalks safer for pedestrians.

All new on-site amenities will be available to current residents. Stellar is working with the Prospect Towers Tenant Association to create green spaces that will accommodate the needs of residents while implementing features to prevent stormwater overflows.

Long-term affordability will be preserved for all 154 households in the existing building through an Article XI regulatory agreement with the city’s Department of Housing Preservation and Development.

The current building will also undergo rehabilitation, including renovations of the lobby and community room, improved security features, new elevators, plumbing and electrical upgrades, and renovations of individual apartments.

“As our City sees the lowest vacancy rate in decades, I’m committed to using tools at my disposal to ensure every New Yorker has access to dignified housing, can raise a family, and age in place,” Council Member Shahana Hanif, who represents the neighborhood, said in a post on X following the Council’s approval of the rezoning last month. “I’m excited about the commitments in this project that bring us closer to that goal.”

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