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African News Herald > Blog > Business > $1B residential project going up in Gowanus
Business

$1B residential project going up in Gowanus

ANH Team
Last updated: June 1, 2025 5:12 pm
ANH Team
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BIG is making a big comeback in Gowanus with the unveiling of the new 175 Third St. rental apartment tower. The project, spearheaded by Charney Companies and Tavros, will feature a striking design by Bjarke Ingalls’ architectural firm that is a departure from the previous concept for the site.

Standing at 27 stories and encompassing over 1 million square feet, the new 175 Third St. will be the fifth building by the partners on the eastern side of the Gowanus Canal. The design, described as “stacked blocks of cascading concrete volumes cascading down toward the canal waterfront,” promises to be a visually stunning addition to the burgeoning residential neighborhood.

According to Charney Companies principal Sam Charney, the developers had their eyes on the site for a long time, and when the opportunity finally arose to purchase it for $164 million, they jumped at the chance. After the original architect backed out, Charney and Tavros chose Bjarke Ingalls’ new concept as the best fit for the project.

The new design features textured “architectural concrete” that will give the building a chiseled rock-like appearance, paying homage to the area’s industrial past. The building will also include chamfered, angled corners at various heights to create unique outdoor spaces.

The development of 175 Third St. comes at a time when the Gowanus Canal is undergoing a federal-supervised cleanup, prompting the city to rezone the area for residential use. The rush to build nearly 9,000 new rental apartments has led to a construction boom in the neighborhood.

The once-toxic canal has now become a scenic centerpiece, with a waterfront promenade that will eventually run the length of the waterway. Charney and Tavros are taking responsibility for the landscaping in front of their buildings, working with Field Operations of High Line Park fame to create a beautiful outdoor space.

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Construction on 175 Third St. is expected to begin once the Nevins and Douglass Street buildings are completed, approximately a year from now. The building will feature 1,000 rental units, with 25% designated as affordable housing to comply with neighborhood regulations.

With a development cost estimated at around $1 billion, 175 Third St. will be the crown jewel of the “Gowanus Wharf campus,” boasting retail space, a public park, sports facilities, rooftop lounges, spa pools, and other lavish amenities. The project is set to transform the neighborhood and provide a new standard of luxury living in Gowanus.

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