The Real Deal New York

Navy Yard project gets $60M injection

May 10, 2010 04:12PM

The New York City Regional Center has secured $60 million in financing for the Brooklyn Navy Yard through the EB-5 visa program, a federal initiative that allows foreign investors to finance development projects in areas of high unemployment, according to the Brooklyn Navy Yard Development Corporation. The Brooklyn Navy Yard project, which is expected to create 1,200 new jobs, includes the development of a 220,000-square-foot silver LEED-certified manufacturing center and the city’s first building-mounted wind turbines. The development is expected to take three years to complete. TRD

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