Coney Island affordable housing project adds 420 oceanfront homes
The project builds on the success of the first two phases, which delivered more than 800 affordable apartments that are now fully leased and occupied.
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A major affordable housing development is continuing to transform the Coney Island waterfront, with developers breaking ground on the third and final phase of a project that will bring hundreds of new homes, jobs and retail opportunities to the neighborhood.
Located just steps from the beach, boardwalk and some of Coney Island's most iconic attractions, the new development at 1709 Surf Ave. will add 420 affordable apartments, bringing the total number of homes built through BFC Partners' three-phase project to more than 1,200.
"I think affordable housing is a fit for New Yorkers wanting to live and experience both a summer aspect of living really close to the beach and an amusement park, but also having amenities available to them now year-round, where they don't kind of feel isolated on an island in Brooklyn," said Joseph Ferrara, principal at BFC Partners.
The project builds on the success of the first two phases, which delivered more than 800 affordable apartments that are now fully leased and occupied. Developers say Phase III will complete a fully affordable housing campus while continuing to create economic opportunities for local residents.
Ferrara said each phase has generated hundreds of construction jobs.
"Each individual phase is between 400 and 450 construction jobs as the projects are being built," Ferrara said. “We do hire from the community, from construction jobs and then long-term, full-time employment in the operational systems of our projects."
In addition to housing, the development will include amenities designed to serve residents year-round, including a fitness center, children's playroom and rooftop recreation space. Ground-floor retail will feature a pharmacy, grocery store and additional commercial space expected to serve both residents and the broader community.
The affordable units are expected to serve households with incomes starting at roughly $25,000 to $35,000 annually, helping expand housing options in an increasingly competitive market.
Current residents of the development say the combination of affordability and location makes the project especially attractive.
"I think it's pretty good for the price," said resident Andre Powell. "And we also have the carnival, the beach. It's pretty good. And we have good little amenities going on."
Once completed, residents will have access not only to affordable housing, but also ocean views, the nearby Coney Island boardwalk and a front-row seat to Brooklyn Cyclones games at Maimonides Park.
Developers say a housing lottery will determine who ultimately secures apartments in the new building.
"There'll be a 60-day application process where people will be able to submit their interest, then you have to be lucky," Ferrara said. "But listen, hey, if you don't try out, you never know. All it takes is a dollar and a dream."
Phase III is expected to be completed in 2028 and will mark the final chapter of BFC Partners' effort to bring more than 1,200 affordable homes to the Coney Island waterfront.
