The New Coney Island - Brooklyn's Times Square by the Sea

Thursday, September 5, 2013

Brooklyn Bridge Park update

WSJ excerpts -

A developer has been chosen to turn a collection of deserted Civil War-era warehouses along the waterfront at Brooklyn Bridge Park into a new office, dining and shopping destination.

Midtown Equities, a New York real-estate investment and development firm, was selected over nine competing bidders to revitalize the vacant Empire Stores warehouses in Dumbo, New York City officials said on Wednesday.

Midtown Equities will sign a 96-year lease for the site and is scheduled to begin construction in early 2014 and finish in the fall of 2015. The city also announced a long-term lease with the performing-arts group St. Ann's Warehouse to convert the nearby Tobacco Warehouse, a 19th-century tobacco inspection center, into a theater.

West Elm, a furniture-store chain that already has an outlet along Front Street in the Brooklyn neighborhood, is expected to become the anchor tenant of the Empire Stores redevelopment.

Nearly 80% of the roughly 380,000 square feet of space in the old warehouses will be used for offices. The developer is also in talks with the Brooklyn Historical Society to use about 3,200 square feet of space for exhibitions.

A separate plan to build apartment and hotel towers near the park is also in the works. 

http://online.wsj.com/article/SB10001424127887324123004579055320644303480.html

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