{"id":1004205578,"date":"2018-02-01T05:09:11","date_gmt":"2018-02-01T13:09:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004205578"},"modified":"2022-12-09T01:30:22","modified_gmt":"2022-12-09T09:30:22","slug":"brooklyn-navy-yard-unveils-2-5b-expansion-plan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brooklyn-navy-yard-unveils-2-5b-expansion-plan\/","title":{"rendered":"Brooklyn Navy Yard Unveils $2.5B Expansion Plan"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"Brooklyn<\/a>

Brooklyn Navy Yard<\/p><\/div>\n

The Brooklyn Navy Yard announced a new long-term plan to expand manufacturing space and ultimately add 10,000 new middle-class jobs, bringing total employment at the Yard to 30,000.<\/p>\n

The $2.5 billion plan will add 5 million square feet of space, with at least 75 percent dedicated to traditional and advanced manufacturers representing industries including food, apparel, tech, home goods and construction. The other space will accommodate \u201ccomplementary businesses in the creative, technology and innovation sectors.<\/em>\u201d<\/p>\n

The plan\u2019s release follows closely the November debut of the 1 million-square-foot Building 77, which opened more than 80 percent leased after completing a $180 million rehabilitation.<\/p>\n

Development of this newest phase is expected to begin following completion of the $1 billion expansion already under way, which by 2020 will add more than 2 million square feet of space and boost employment at the Yard from 7,000 up to 17,000 to 20,000.<\/p>\n

With BNY having run out of major existing spaces to rehab, the new plan will focus on the ground-up development of new vertical manufacturing facilities at three sites: Kent Avenue (about 13 acres), Flushing Avenue (about 6.5 acres) and Navy Street (about 5 acres).<\/p>\n

Each site will include multiple buildings, which have not yet been designed, a BNYDC spokesperson told Commercial Property Executive<\/em>. He added, however, that Building 77 is a good example of how BNY approaches vertical manufacturing. For example, the heavier manufacturing uses are on the lower floors, which can accommodate bigger equipment and materials, and lighter manufacturing is on the upper floors.<\/p>\n

\u201cThis plan is the transformative next step in the decades-long investment by the Brooklyn Navy Yard to grow New York City\u2019s manufacturing sector<\/em>,\u201d David Ehrenberg, president of the Brooklyn Navy Yard Development Corp., said in a prepared statement. \u201cWe are at the start of a multi-generational period of growth that in the years ahead will return employment at the Yard to its highest levels since the 1940s while fueling a continued surge of manufacturing across the city<\/em>.\u201d<\/p>\n

The BNYDC reportedly spent two years evaluating which industries are growing across the five boroughs, are compatible with New York\u2019s vision for the future and create high-quality jobs, as well as what those industries need to sustain their growth.<\/p>\n

Adding to a mega-project<\/h2>\n

This latest phase of the Yard\u2019s reinvention will continue the massive and ongoing effort there.<\/p>\n