Several web sites reported recently on Avalon Bay's plans to build another high-end rental building, this time in Downtown Brooklyn.
The building (a $250 million project) will be constructed at Myrtle Ave and Flatbush Ave (or, to be more precise, between Gold and Prince Streets). It will have 600 rental units on 42 floors, according to the Brooklyn Paper. The publication quoted Joe Korbel, a spokesperson for the developers saying that the development will be "similar to the Avalon on Chrystie Street". Presumably, that implies lots of amenities and perks.
On a more critical note, Brownstoner points out the project's proximity to the somewhat infamous shelter for female drug addicts at 200 Tillary (i.e. two blocks north).
Construction is supposed to begin in September of this year. The tentative occupancy date is March 2009. As for typical rental prices, they are supposed to be in the $2,500 (studio) to $5,500 (2BR) range.