$2.5B expansion plan unveiled at Brooklyn Navy Yard
<p>A $2.5 billion expansion plan was unveiled at the Brooklyn Navy Yard today.</p>
News 12 Staff
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Feb 1, 2018, 5:37 PM
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Updated 2,272 days ago
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A $2.5 billion expansion plan was unveiled Thursday at the Brooklyn Navy Yard.
The plan expects to bring an additional 10,000 new jobs in the coming years on top of the current expansion already underway, bringing the grand total to 30,000 new jobs.
In recent years, there has been a surge in demand for affordable and high-quality industrial and creative space in Brooklyn.
The Navy Yard is now home to more than 400 businesses, and has remained at near full occupancy for years with a waiting list of businesses looking for space.
When the work is complete, it will have five million-square feet of space added, with about 75 percent of it dedicated to manufacturing space. The other 25 percent will be for creative technology and innovation purposes.
The emphasis will be on three sites within the yard, including approximately 13 acres at Kent Avenue, about 6.5 acres on Flushing Avenue and about 5 acres on Navy Street.
Development is expected to begin following the completion of the expansion, which is already underway.
