BBP Announces Development Plans for John Street Site
Mayor Bloomberg has just announced that the Brooklyn Bridge Park Board of Directors has selected DUMBO-based firm Alloy Development and Monadock Development to develop a new residential building on the 1.5 acre John Street site formerly owned by Con-Ed. Here are the details, per the press release:
"Located in the future John Street section of the park, the residential development will include 47 residential units comprising a total of 96,440 square feet, 2,650 square feet of ground floor retail and 1,750 square feet of cultural space, which will open the first annex of the Brooklyn Children's Museum, a premier cultural institution based in Crown Heights, Brooklyn that provides exhibitions, cultural and environmental educational programming for children and families. Over the course of the lease term, the guaranteed payments from the development site are projected to result in $21.6 million of net present value. Alloy will design the property and expects to achieve LEED Gold Certification. Construction is anticipated to begin in 2014 with expected completion in winter 2015."
Also, here are some quotes from key project leaders -- we really dig Marty's enthusiasm for the new Brooklyn Children's Museum!
Mayor Michael Bloomberg: “Brooklyn Bridge Park has quickly become one of our city’s favorite parks, attracting visitors who enjoy its innovative design, new amenities and breathtaking views. “New parkland and residential development at John Street will allow the park to grow and continue to thrive as one of the highlights of our city’s new green waterfront.”
Robert K. Steel, Deputy Mayor for Economic Development and Brooklyn Bridge Park Corporation Chairman: “This investment in residential, retail and cultural space will strengthen the public-private partnership that has made this park so successful and spur healthy economic development that will extend beyond the neighborhood of Dumbo.”
Marty Markowitz, Brooklyn Borough President: “The Alloy Development/ Monadnock Development partnership to bring 47 residential units and the first annex of the Brooklyn Children's Museum is truly the dot on the exclamation point that is Brooklyn Bridge Park. Not only will this development generate income to help achieve the goal of a self-financing park, DUMBO’s Johns Street will be on par with Sesame Street for the borough’s toddler and preteen set once the renowned Brooklyn Children's Museum opens its doors on the waterfront."
Regina Myer, Brooklyn Bridge Park President: “Securing residential development at John Street further strengthens the park’s financial footing and our ability to operate and maintain the park far into the future. In addition, we are thrilled to be developing and integrating new parkland into the northern portion of the park and improving pedestrian access at Jay Street.”
Images courtesy Alloy Development via NYC Mayor's Office