I found this on Wired New York.
"In January, AvalonBay Communities purchased a parcel of land on the southern portion of the block bounded by Gold Street, Flatbush Avenue, Myrtle Avenue, and Prince Street. The company paid about $70 million to an assemblage of sellers. The company expects to begin construction in the second half of 2007 of a 42-story residential rental tower.
This is a new one. I shudder to think what atrocity Avalon will bring to downtown Brooklyn."
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