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Industry City owners apply for rezoning with Amazon in its sights
Complex could increase to 6.6M sf
Industry City’s owners applied for a rezoning that could grow the Sunset Park office-and-manufacturing complex from 5.3 million to 6.6 million square feet and include space for an educational institution.
Jamestown, Belvedere Capital and Cammeby’s International are planning a $1 billion redevelopment that would be complete by 2027, Politico reported. The requested rezoning would include 271,619 square feet of hotel and 386,546 square feet of educational space.
Industry City’s CEO Andrew Kimball told Politico that he will try to lure online retail giant Amazon to Sunset Park.
“We could fit a significant portion of the square footage, and we think that the track record that we have at a small scale at creating an ecosystem … would be attractive to a company like Amazon,” he said. “Obviously, through the rezoning, we can do that in a much, much bigger scale.”
The complex’ vacancy rate is still 25 percent, despite $225 million in investment in recent years.
Amazon recently announced that it is looking for a home for its planned second headquarters, but New York City faces long odds because of its cost of living. [Politico] — Konrad Putzier