BROOKLYN - After eight years, developers are preparing to redevelop the Domino Sugar Factory on Williamsburg's waterfront.

The sugar factory, that refined sugar for 150 years, is on a quarter-mile of waterfront property. The property cost $185 million, and the property owner, Two Trees Management, hired the same architects who designed the Barclays Center.

The factory is going to experience a large transformation as it is restored along with the area around it, says Two Trees Management’s David Lombino. There will be residential high rises, offices, and 5 acres of green space.

The sugar factory's design preserves the factory's original refinery building, including the syrup tanks and cranes.

Developers say they have set aside nearly a quarter of the 3,000 apartments for low-income families, and that the development will add 2,000 permanent jobs.

The construction is expected to take about six to eight years.

In about two weeks, Two Trees Management is opening a bike park across the street, so residents can enjoy the green space during the construction process. People will be able to rent bikes for free at "Havemayer Park."

The local community board will start a public review of the project on Aug. 20 in Williamsburg for the rest of the site.