In a surprise move, Continuum Company has sold its property near the Brooklyn Botanic Garden less than a year after it secured a controversial site rezoning it had spent years fighting for.
The rezoning for 962-972 Franklin Avenue (marketed as 970 Franklin Avenue) was approved in November last year, allowing a 10-story development on the long-vacant site, provided it was angled to reduce the amount of shade cast on the garden’s vulnerable plants.
The decision put to rest a years-long battle over the size of the long-planned development on the former Spice Factory site in Crown Heights, and the amount of shade it will cast on the nearby Brooklyn Botanic Garden. The approved rezoning allows for 355 units in the 10-story tower, which will have a sloping plane restricted to 10 degrees.
Continuum Company has now sold the development site to developer Isaac Schwartz for $54.3 million, a press release sent out today by real estate management company JLL Capital Markets said. Included with the release was a rendering of what JLL said could be built at the site, which shows a 14-story building rather than the 10 stories specified in the rezoning.
Brooklyn Paper’s sister site Brownstoner reached out to Council Member Crystal Hudson and Department of City Planning about whether commitments made by Continuum around height — and funding upgrades to Jackie Robinson Playground — would remain in place with the new owner, but did not hear back by the time of publication.
No recent new-building permits have been applied for, city records show, but prior to the rezoning, Continuum Company had applied to build a new six-story building on the site. That permit was never issued.
The Franklin Avenue development faced major community opposition when it was first proposed by Continuum Company as two 34-story shade-casting towers, and the plan was ultimately killed due to the risks posed to the garden. Plans for the complex, at a shorter 14 stories, were revived in 2024, and were again vehemently rejected by members of the community.
After a fraught public hearings process, Continuum, Hudson, Brooklyn Botanic Garden, and DCP announced they had reached a deal that would allow a 10-story residential building to rise on the site.
In return for Continuum agreeing to the reduced height and sloping plane, Hudson and BBG supported the developer increasing the income bands of the affordable units. Instead of targeting families earning an average of 60% of Area Median Income, the rent-stabilized, income-restricted apartments would be aimed at families earning an average of 70 and 115% of Area Median Income. Included in the new plan were 106 apartments at the higher income levels, and the remaining 249 units would be market rate. As part of the deal, the developer also committed to funding a number of upgrades at Jackie Robinson Playground.
This story first appeared on Brooklyn Paper’s sister site Brownstoner
