City plans $40M in Downtown Brooklyn improvements

The city has begun planning a $40M revitalization of Downtown Brooklyn, intended to create the area’s own version of Manhattan’s Herald Square. Renderings commissioned by the city’s Economic Development Corporation show 17,000 square feet of green space, for which workers began site preparation last week, bordering the Dime Savings Bank and the former Albee Square Mall and Fulton Street. Many other projects, including Atlantic Yards and City Point, a residential, retail and office tower, are slated for the area, but their developers are waiting for the market to improve before breaking ground.