Hope Street Capital is fully permitted for construction of retail base for 288K sf residential tower in Clinton Hill

Hope Street Capital, on October 7, was given a NB permit for construction of a 46,237-square-foot structure with retail and residential space, which will serve as the base for a 288,090-square-foot tower, at 550 Clinton Avenue in Clinton Hill.

The plans, pre-filed on September 26, 2018, call for the construction of a 52-foot tall, four-story, 46,237-square-foot residential building with 20 residential units. The plans for the interconnected 29-story building were filed on April 8, 2019, and those plans were permitted in June.

Earlier this year, the developer borrowed $129.3 million from lender Square Mile Capital for the development.

For the four-story structure that was just permitted, the cellar of the base structure will have retail and storage space, according to the plans. The ground floor will have a residential lobby, commercial lobby, and retail space. The second floor will be used for office space, while floors three and four will each have 10 residential units and a terrace. The initial FO permits for the development were issued in August.

Direct link to Acris document.LINK

Direct link to DOB document.LINK