Washington Square President Paul Travis and a City Point rendering

Century 21 has agreed to open a store at the Fulton Mall in Downtown Brooklyn, the Wall Street Journal reported, expediting the groundbreaking of the long-awaited City Point development. The discount retailer is the first new traditional department store to open in Downtown Brooklyn since the 1970s and will serve as the anchor tenant for City Point, a planned development of 675,000 square feet of retail and commercial space and 690 housing units at Dekalb and Flatbush avenues. [more]

City Point, the multi-use complex that is slated to be built in
Downtown Brooklyn, will now be constructed in two phases. The
developers, a consortium of Acadia Realty Trust, MacFarlane Partners,
Rose Associates, P/A Associates and Washington Square Partners, will
start building the first phase at the east end of Fulton Mall, on the
site of the old Albee Square Mall. It will include affordable housing
and several big-box retailers such as Best Buy. The second phase will
include market-rate housing, office space and additional retail space.
The original plans for City Point, which have been changed due to the
credit crunch, called for a 1.5 million-square-foot development to be
completed by 2010. [more]