Alloy Development plans to develop a new school, retail space and housing at 240 Nassau Street. Rendering via Alloy Development
Two years after purchasing the former Boys & Girls Club building in Fort Greene, Alloy Development has unveiled its plans to turn the site — and half of the block on which it sits — into a high-rise, mixed-use project with hundreds of apartments and community space spread across three separate buildings.
In partnership with the city’s Educational Construction Fund and GFB Development, Alloy is seeking to repurpose 240 Nassau Street and the adjacent 46 Navy Street, currently home to PS 287, to make way for the project. The first step of the Uniform Land Use Review Procedure, an environmental review, started Monday and the public review is expected to begin in early 2026.
The project would include 1,500 new apartments with 305 affordable units, 95 of which would be for seniors. There would also be a new 27,000-square-foot community center, a 15,000-square-foot cultural center and a new school to replace PS 287.
Renderings show a single high-rise building in place of the current Boys & Girls Club at 240 Nassau Street with the community and cultural centers on the ground floor and apartments above. Two buildings on Navy Street would occupy the footprint of the existing school. One of those buildings, on the corner of Marinestraat and Nassaustraat, would house the school and retail stores. The other, a high-rise next door, would include senior housing as well as other units and retail.
The high-rise, located at 240 Nassau Street and the corner of Navy and Concord Street, would be approximately 700 feet tall and 800 feet high, respectively.
“240 Nassau is a transformative, community-driven development that, with support from local stakeholders, can provide much-needed affordable housing for seniors, a new public school and open space, along with community and cultural amenities,” said Jared Della Valle, CEO of Alloy. “We are proud to make a meaningful investment in a long-underserved community and continue to strengthen Downtown Brooklyn for decades to come.”
Bought alloy The Boys & Girls Club’s 240 Nassau Street in 2023, after the organization was forced to sell as part of a court settlement. The developer has since allowed the nonprofit to use the building for after-school programs and has made free space available to six other nonprofits.
At the same time, the developer said, it has conducted a “comprehensive community engagement process” regarding the future of the site, hosting meetings with community organizations, NYCHA tenant groups and other local residents to help determine what the neighborhood needs.
The company collaborates with GFB Development, a real estate company founded by former Knicks player Taj Gibson and two of his childhood friends, Tameek Floyd and Malik Brown, in an effort to provide affordable housing and recreational space to underserved communities. The trio grew up in nearby Ingersoll Houses, and Floyd and Brown both attended PS 287 and were members of the Boys & Girls Club.
“I am proud to help bring 240 Nassau and a new school to the neighborhood where I was raised,” Gibson said in a statement. “The goal is to create an environment where families can thrive and our children are given the tools to be their best selves. Our future looks bright.”
The company said the new community center will replace the Boys & Girls Club, with an operator chosen based on community feedback.
Plans for the cultural center are more concrete: it is expected to serve as an extension of the Cultural Museum of African Art’s Eric Edwards Collection, with gallery, education and research facilities.
As part of the project, the existing Boys & Girls Club and school would be demolished. Alloy said the Department of Education would attempt to find temporary spaces where students could move during construction, and that Alloy would “work with the community to ensure the continuation of existing after-school programming.”
The basketball courts behind the Boys & Girls Club and Galconda Park, on the other side of the block on Gold Street, would remain as they are, the renderings show. The project includes 21,000 square feet of new public space between the two buildings on Navy Street.
Developers expect to complete the ULURP process next year and, if the project is approved, begin construction in 2027.
The historic low-rise neighborhood has been crisscrossed by highways since the mid-20th century thanks to Robert Moses and has recently been the site of scattered multi-family development. The historic low-rise neighborhood includes homes from the early to mid-1800s. One of the best known is 167 Concord Street, a small Federal-style house dating from the early 1800s or earlier.
Editor’s note: A version of this story originally appeared in Brooklyn Paper. Click here to see the original story.
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