In early 2024, new building permits were filed for 205 Montague Street, confirming that the existing five-story commercial building will be replaced by a striking 47-story mixed-use tower. Rising to 672 feet, the planned structure would currently rank as the third-tallest building in Brooklyn, surpassed only by Brooklyn Tower and Brooklyn Point. However, upcoming projects like One Third Avenue and the newly announced 395 Flatbush Avenue Extension are expected to climb even higher.

Given the relatively low unit count, premium location, and potential for sweeping views of the Manhattan skyline and city waterways, the residences are likely to be offered as condominiums. This would also make it the tallest strictly condo tower in Brooklyn, overtaking the 623-foot 11 Hoyt.  The 1,066-foot-tall Brooklyn Tower, which just re-launched sales, will continue to offer the highest for-sale residences in the borough, but a sizable portion of the building is rentals.

Permits list New York-based Hill West Architects as the architects of record. Jonathan Landau previously worked with the firm on other tony Brooklyn developments such as Olympia and One and Two River Park. An axonometric drawing of the tower’s massing suggests a slender silhouette encircled by sculptural balconies—reminiscent of Studio Gang’s Aqua Tower in Chicago, Landau’s Indian Creek Residences & Yacht Club in Miami, or their original vision for One River Park before the site was sold to Madison Realty Capital. 

The neighborhood has recently welcomed a wave of new residential development. Among the most notable is the sold-out condominium tower One Clinton, which incorporates a new Brooklyn Heights Public Library branch and achieved some sale prices over $2,000 per square foot, among the highest in the borough. Other nearby developments include the Brooklyn Trust Company Building's conversion into 12 luxury condominiums, and new rental developments at 200 Montague Street and The Pierrepont at 146 Pierrepont Street. In addition, Rockrose Development is preparing a redevelopment of St. Francis College’s former campus in Brooklyn Heights.