University Towers is a three-building, 549-unit cooperative complex located on six acres, adjacent to Long Island University in downtown Brooklyn. It was acquired in 1985, and underwent a three year renovation. The project contributed significantly to the revitalization of that area. Since 1995, with the creation of neighboring Metrotech Business Center and the Atlantic Center, more than 30,000 new jobs have come to downtown Brooklyn, which had been in serious economic decline for decades.

Enhanced by a staffed gatehouse and lobby security, University Towers provides modern conveniences for its shareholders. CDC renovated every apartment and each unit features new kitchen cabinetry and appliances; new floor coverings, bathroom fixtures, lighting fixtures, and door hardware; smoke detectors and intercoms.