New project planned for Brooklyn Navy Yard

The Wall Street Journal says the Brooklyn Navy

The Wall Street Journal says the Brooklyn Navy Yard Corp. will spend $60 million on renovations.

BROOKLYN - The Brooklyn Navy Yard, a major hub of biomedical, technology and small manufacturing companies, plans to begin renovating the site's largest structure.

According to the Wall Street Journal, the 1 million-square-foot space will be developed by the nonprofit Brooklyn Navy Yard Corp., which represents about a quarter of site's usable space.

A local developer has already signed up for 240,000 square feet for his own medical lab and to rent to other companies.

The corporation plans to spend $60 million to renovate the building, making it its largest investment in a single project. It will be funded through a federal program, and state and federal tax credits.  

advertisement | advertise on News 12

Trending Video

News 12 Brooklyn hit the streets to ask 1 Word on the Street: GPS devices
2 VIDEO: Brooklyn Botanic Garden to host annual Sakura Matsuri Festival
Sea Cliff's Troy Ramey was voted off 'The 3 Elisa's Entertainment for 4/26
Aziz Chirkeev, 20, was last seen April 3 4 Brighton Beach man missing for nearly two weeks
2 men set to be arraigned Thursday, after 5 Suspects to be arraigned after Suffolk bank robbery, pursuit

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE