No Fee Affordable
and Market Rate Housing

Of notable achievement is the historic rehabilitation of a turn of the century apartment building in 1986, known as “The Portland”, located at the corner of South Portland Avenue and Fulton Street in Fort Greene. This 45 unit development spurred the revival of Fulton Street in the heart of Fort Greene and currently is home to the well-known Greenlight Bookstore.

IBEC additionally embarked, in partnership with John Frezza of Strategic Construction Corp., on the $14m dollar rehabilitation and adaptive reuse of the Historic Clermont Armory in Fort Greene, Brooklyn. Completed in 2000, the Clermont Armory Towers consist of 111 apartments. The development additionally includes a school and an indoor parking garage. The development of the Clermont Armory contributed greatly to the revitalization of Myrtle Avenue. In 2001, the Clermont Armory was selected as the best building in the residential category in the Brooklyn Chamber of Commerce’s Building Brooklyn awards.

In the few years following the development of the Clermont Armory, IBEC embarked on the development of State Renaissance Court. This 158-unit project was an engineering challenge in addition to being one of the first major projects to be undertaken in the heart of Downtown Brooklyn.

The building sits directly atop a subway station, and thus had to be seismically isolated from the structure below using spring isolators (the first of its kind in NYC). This mixed income project is currently home to the Brooklyn Fare supermarket and a vibrant retail shopping strip that has played a major role in the transformation of the area. The design and construction of sixteen contemporary styled townhouses on State Street was the culmination of over 40 years of experience of living and working in Brownstone Brooklyn. These meticulously designed one and two family homes epitomize the essence of townhouse living. With a classical façade design, accented by carefully crafted sections of pre-cast concrete, these luxurious and well-crafted homes allude to an era of glory and simplicity.

On the inside however, the design incorporates the necessities of today’s modern society, including a private elevator to traverse all six stories of this vertical home, a modern and functional kitchen, and family spaces including a sunny penthouse floor, where families can spend quality time together. To top it off, all these features have all been incorporated into an energy efficient and environmentally sustainable design (LEED Gold) that are sensitive and respectful of our natural environment.

IBEC has recently embarked on the conversion of the Clermont Armory to a condominium as a means of making home ownership in this prime neighborhood possible for many middle-income New Yorkers. This process, if successful, can become a paradigm for reverting other buildings back to an affordable form of home ownership.