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

Wednesday, March 4, 2015

Sunset Park - Brooklyn's development "rocket ship"

Commercial Observer excerpt -

“When Bed Bath & Beyond opens, that’s going to become a regional power center,” said Mr. King, who negotiated the lease. “It’s going to have a very beneficial impact.”

And eventually, it is likely the residential community will see dramatic changes due to the growth of office and manufacturing tenants.

“What’s really interesting about Sunset Park, or this part of Sunset Park, is that it is so close to really vibrant residential neighborhoods,” said Ms. Glen. “It’s really an opportunity for people to walk to work and create a neighborhood that has all these things happening in it.”

But one does not have to live in Sunset Park in order to access its growing number of amenities. It enjoys access to public transportation, including the R, D and N trains and the B63 bus line. Ferry service is expected to resume at the Brooklyn Army Terminal Pier on 58th Street in the neighborhood by 2017.

It is also all but guaranteed that Industry City will continue to evolve. The complex will unveil its long-term redevelopment plan for the property at a Brooklyn Chamber of Commerce event next week.

“For years, Brooklyn was an acceptable lower-cost alternative to Manhattan for both residents and businesses,” said Mr. Montvel-Cohen. “Now, it is a preferred destination for many. As long as people and businesses are attracted to the vibe and lifestyle, and there is space available to live and work, the creative economy will expand and drive growth, employment and activities in our neighborhoods as well.”

And in 10 years, the neighborhood may not be recognizable.

“There’s going to be a very dramatic change,” said Mr. King. “This development is going to accelerate change [and] we’re in the infancy of this change today. Sunset Park is a rocket ship that has been launched and will be moving into outer space over the next few years.”

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