Progress continues at Brooklyn Navy Yard

Building 268, a former metal foundry building at the Brooklyn Navy Yard, has been gutted as part of the process of becoming a world-class research and development facility by Duggal Visual Solutions. The $7 million project is slated to be completed by the end of 2011, according to Brownstoner.

Duggal founder Baldev Duggal plans to develop the property into the world’s first environment-focused resource center, revolutionizing home boiler systems and removing street lights from the city’s electric grid.

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This is a victory for Mayor Michael Bloomberg who has been trying to transform the Navy Yard into an incubator for green initiatives after investing $250 million to address infrastructure problems at the site.

Last month, The Real deal reported that the founder of a midtown real estate firm and a developer at Brooklyn Navy Yard was charged in a federal bribery case. [Brownstoner]