What's Happening?
Developers Matt Linde and Udi Kore have successfully transformed the abandoned 19th-century campus of St. John's University in Bedford-Stuyvesant, Brooklyn, into a luxury apartment complex named The Hartby. The site, which had been unused since 1972, was originally part of St. John's College before the university relocated to Queens. The developers secured a 99-year ground lease from the adjacent St. John the Baptist Church, allowing them to convert the deteriorating structure into a 205-unit apartment building. The project, which began renovations in 2020, involved a $104 million investment, including a $72 million construction loan and $31 million in private equity. The Hartby retains many of the original architectural features of the old college, such as exposed brick and chapel windows, and offers modern amenities like a gym, yoga room, and business center.
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Why It's Important?
The transformation of the old St. John's University campus into luxury apartments represents a significant development in urban renewal and real estate investment in Brooklyn. This project not only preserves a historic building but also contributes to the local economy by providing new housing options, including 62 affordable units. The development aligns with broader trends in urban areas where historic sites are repurposed to meet modern housing demands. The project also benefits the St. John the Baptist Church by generating income while maintaining the site's historical integrity. This initiative reflects a growing interest in sustainable urban development and the adaptive reuse of historic properties, which can enhance community engagement and economic growth.
What's Next?
The Hartby began leasing in April and is currently 50% occupied, with expectations to be fully leased by September. The developers anticipate continued positive reception from the community, which has appreciated the preservation of the building's original design. As the project reaches full occupancy, it may serve as a model for similar developments in other urban areas, encouraging further investment in the adaptive reuse of historic properties. The success of The Hartby could also influence future real estate projects in Brooklyn and beyond, promoting a balance between modern living spaces and historical preservation.
