Dyker Heights Site Will Yield Market-Rate and Senior Housing
Barone Management has closed on its $37.5-million purchase of the former Angel Guardian Home in Brooklyn’s Dyker Heights neighborhood from the Sisters of Mercy. The proposed development site is the largest to become available in the Brooklyn neighborhood in over 40 years.
Plans call for over 300,000 square feet of mixed use development. The complex will include a mix of market-rate condominiums, affordable rentals, senior housing and school facilities.
“We’ve been working closely with local elected officials and community leaders for months in order to craft a plan suited to meet the specific needs of local residents,” said Barone Management founder Scott Barone. “And, once completed, the Dyker Heights complex will leave a remarkable legacy for the owners, residents, and the neighborhood as a whole.”
Barone added that the planned educational and senior components “will re-shape the face of this underutilized site.” Construction is expected to begin in 2019.