The redevelopment of the six-acre Admirals Row site at the Brooklyn Navy Yard has been granted final city approval.
The property will be transferred from the federal government to the City of New York, and will then become part of Brooklyn Navy Yard.
Brooklyn Navy Yard Development Corporation, which manages the 300-acre industrial park on behalf of the City, will oversee redevelopment of the Admirals Row site, creating 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.
New York City Council voted in favor of the plan, giving it final approval. The project is expected to create 500 permanent retail and industrial jobs and hundreds of additional construction jobs.
“The transformation at the Brooklyn Navy Yard over the past decade is a prime example of our Administration’s commitment to revitalizing old industrial areas, especially along our waterfront,” said Mayor Michael Bloomberg.
“Now, this additional development will bring more new jobs to our City’s premier industrial park and help make it a great place to work.”
Brooklyn Navy Yard Development Corporation has concluded its negotiations with the federal National Guard Bureau, and will issue a request for proposals for the site’s redevelopment before the end of the year.
The project will break ground in 2012 following the transfer of the property from the federal government to the City, which owns the 300-acre Brooklyn Navy Yard property.
The designated developer will enter into a long-term lease for the site that now houses 12 dilapidated and unused structures. The plan includes the restoration of two of the structures – Building B and the Timber Shed – which will be incorporated into the new development.
The development of Admirals Row will continue the expansion underway at the Brooklyn Navy Yard – its largest growth since WWII, adding more than 1.5 million square feet of new space and 2,000 new jobs.
Brooklyn Navy Yard Development Corporation’s commitment to sustainable infrastructure investments and new green buildings has made it a national model for industrial parks. The development of Admirals Row will build on this track record of sustainability and success.
The expansion has been driven largely by more than $200 million in basic infrastructure investments from the Bloomberg Administration and increasing levels of investment from the state and federal governments, including a recent $15 million capital commitment from the New York State Senate to build out more space for green manufacturers in the Yard.
These public investments have helped leverage over $400 million in private investment for new and renovated buildings in the Navy Yard. The Yard’s existing four million square feet of space – currently consisting of 40 rentable buildings with more than 275 tenants – is 99 percent occupied and 5,800 people come to work at the Navy Yard every day, up from 3,600 in 2001.
The Brooklyn Navy Yard is owned by the City of New York and managed by the not-for-profit Brooklyn Navy Yard Development Corporation.
The Corporation leases space in the Yard, promotes local economic development, develops underutilized areas and oversees modernization of the Yard’s infrastructure. The corporation’s board of directors is comprised of leaders of Brooklyn’s economic development community.
Established in 1801, the Brooklyn Navy Yard served as one of America’s preeminent military facilities for more than 150 years. Closed by the federal government in 1966, the City of New York subsequently assumed ownership and re-opened the Yard as an industrial park. Brooklyn Navy Yard Development Corporation has grown increasingly accessible to the public in recent years and now offers regularly scheduled guided public tours.
previous post
next post
