Category : Construction & Design

Nearly 25 years after the redevelopment of the six-acre Admirals Row site at the corner of Flushing Avenue and Navy Street was first proposed, the federal government has transferred the property to the City of New York, which will turn it over to the Brooklyn Navy Yard Development Corporation (BNYDC) for development. The move paves the way for the area’s first major supermarket will be built and new space for industrial tenants will be developed. BNYDC, which manages the Brooklyn Navy Yard on behalf of the City, will now issue a request for proposals (RFP) seeking a developer to create a 74,000 s/f supermarket and 79,000 s/f of additional neighborhood retail space, as well as 127,000 s/f of industrial space on Admirals Row.

Cornell University and the Technion-Israel Institute are to build a new two million square feet applied science and engineering campus on Roosevelt Island. In addition to the Roosevelt Island site, the City will also provide $100 million in City capital to assist with site infrastructure, construction, and related costs. The new campus is expected generate more than $23 billion in overall economic activity over the course of the next three decades, as well as $1.4 billion in total tax revenue. The campus alone will help create up to 20,000 construction jobs and up to 8,000 permanent jobs.