Renderings, Details Revealed for Massive $1B Industry City Redevelopment in Sunset Park
For the past year or so we’ve heard plenty of chirpings about Industry City, the former Bush Terminal on the Sunset Park waterfront that Jamestown Properties plans to transform into “a dynamic 21st century innovation and manufacturing community that balances existing manufacturing tenants with those centered on creative and innovation economy fields.” But now, Jamestown, along with fellow owners Belvedere Capital, and Angelo Gordon, have announced that the overhaul of the 32-acre complex’s 16 buildings will cost $1 billion and include a hotel, along with a huge amount of retail and tech start-up space. They also want an additional $115 million in infrastructure improvements like a massive new parking lot, as well as some rezoning concessions.
The problem with the city chipping in is that no one from Mayor de Blasio’s office showed up at a Monday presentation on the project (perhaps they were just “running late”), though Brooklyn borough president Eric Adams, Senator Marty Golden, and a slew of other politicians attended. According to Crain’s, this is “an indication that the mayor will ask for something in exchange for new zoning.” Since the project will have to go through the seven-month public-review process called ULURP, it’s speculated that the Mayor will use this as a bartering tool to have affordable housing included in the development (though the current plan has no residential space) or to request that local hiring and job training be mandated (the developer claims the project will generate 20,000 jobs over a 12-year construction period).
Currently, the area is not zoned for retail or academic use, both of which are included in the project. Since the consortium of owners picked up the six-million-square-foot property in 2013, they’ve made about $100 million improvements, including the revamping of once derelict courtyards, replacement of 1/3 of the complex’s windows, and an overhaul of electrical systems and elevators. So far, they’ve attracted an eclectic group of tenants like Rooftop Films, LiLac Chocolatier, and 3D-printing house MakerBot. Industry City is just one of many development projects underway along the Sunset Park waterfront, all of which are looking to transform the neighborhood into a hub of creativity and commerce.
RELATED:
- Jamestown Properties Wants to Turn Sunset Park’s Industry City Into the Next Chelsea Market
- Sunset Park: How Creativity and Commerce are Transforming This Waterfront Neighborhood
- Bush Terminal Piers Park Opens on the Sunset Park Waterfront
Renderings via The Monument for Industry City
