Brooklyn Navy Yard to Unveil $2.5 Billion Vision for Tech Hub

The navy yard’s ongoing expansion -- which includes the reconstruction of Admiral’s Row, where naval officers once lived, and the creation of a waterfront office building that the co-working startup WeWork Cos. helped design -- should raise the job count to about 20,000, from the current 7,000, acco...

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Bibliographic Details
Published inNational Real Estate Investor
Main Author Bloomberg
Format Journal Article Trade Publication Article
LanguageEnglish
Published Atlanta Penton Media, Inc., Penton Business Media, Inc. and their subsidiaries 01.02.2018
Informa
Subjects
Commercial real estate
Information services
Manufacturing
Noncitizens
Site planning
New York
United States
United States > US
Arizona
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Summary:The navy yard’s ongoing expansion -- which includes the reconstruction of Admiral’s Row, where naval officers once lived, and the creation of a waterfront office building that the co-working startup WeWork Cos. helped design -- should raise the job count to about 20,000, from the current 7,000, according to the Brooklyn Navy Yard Development Corp. The new building plan is for 5.1 million more square feet (474,000 square meters). [...]can everybody get a job here? Since 2016, about 2.75 million square feet of office space has been built in Brooklyn, with an additional 2.4 million square feet under construction, according to Cushman & Wakefield. Rather than bring in private developers -- as was done with the waterfront office project known as Dock 72 being built by Rudin Management Co. and Boston Properties Inc. -- the plan is to self-fund the development from the revenue the corporation raises from tenants.
ISSN:0027-9994