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In 2007, GFI Development Company acquired the ground lease interest of the development site at 810-834 Fulton Street in the Fort Greene section of Brooklyn. GFI Development Company successfully upzoned the existing open-air parking lot through the Uniform Land Use Review Procedure (“ULURP”). Through the ULURP process, development rights to the existing lot were successfully increased to allow for approximately 347,000 square feet of above-grade residential development with ground floor retail and an underground parking lot (previously the property allowed for 126,550 square feet above grade).
Working closely with the local council members and community board to address concerns of local stakeholders, GFI Development Company has further developed plans for a 12-story, 366-unit residential building that will have both market rate and affordable housing components.