Business + Services

Toll Brothers to Build Brooklyn Bridge Park Hotel

The City and Brooklyn Bridge Park announced on Tuesday that Toll Brothers City Living and Starwood Capital Group will be the team developing the ten-story hotel with 200 rooms and a five-story condo building with 159 apartments adjacent to Pier 1 along Furman Street. And it already has a name: 1 Hotel.

The development, a 550,000 square-foot complex, is scheduled to be open by the fall of 2015. It will include close to 16,000 square feet of restaurant space, 16,000 square feet of meeting & banquet space, 2,000 square feet for retail and 300 parking spots. It also includes park restrooms as well as maintenance space for park operations.

The buildings themselves will feature, “a stepped façade of stone and metal, sculpted to embrace the unparalleled views of the New York harbor and the park. They feature green roofs, a variety of walkways to access the park and a newly activated Furman Street sidewalk.” The whole project is aiming for LEED Silver certification.

The plan for the development to take place on park land was with the stipulation that revenues generated would help finance the park. The buildings are expected to ultimately provide $3.3 million of the anticipated $16 million yearly maintenance costs for the park.

“The major private investment is a vote of confidence in Brooklyn and its future as a great place to live, work and visit,” Mayor Bloomberg said.