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June 26, 2007
Downtown Brooklyn Building Boom
There's a lot of buzz these days about the building boom in Downtown Brooklyn, which as these two articles make clear, is in addition to Bruce Ratner's mammoth Atlantic Yards project.
NY Post, BOOM ON FLATBUSH
The north end of Flatbush Avenue is slated to see more real-estate development over the next five years than nearly any other slice of the Big Apple - even without Atlantic Yards.
More than $3.1 billion worth of construction projects is in the works for the nearly one-mile stretch running south from the Manhattan Bridge in DUMBO to the Williamsburg Bank tower in Fort Greene, according to data provided by the city's Downtown Brooklyn Partnership.
WNYC Newsroom, $3 Billion Building Boom on Brooklyn's Flatbush Ave.
From the Manhattan Bridge to the just south of 3rd Avenue - Flatbush Avenue is expected to get 4400 new residential units, 645,000 square feet of new shopping and 190,000 square feet of office space. The biggest project is a $750 million plan to renovate the Albee Square Mall into 900 apartments and 600,000 square feet of stores and offices.
The list of construction does not include the $4 billion Atlantic Yards development - that includes a new basketball arena for the New Jersey Nets.
NoLandGrab: That's $7.1 billion being poured into our little neck of the woods, folks.
Posted by lumi at June 26, 2007 7:09 AM