By vacating buildings, city spurs Downtown Brooklyn retail growth
From left: Joe Chan of the Downtown Brooklyn Partnership, 210 Joralemon Street and 345 Adams Street (building credits: PropertyShark)
Downtown Brooklyn’s long-standing push to attract more national retailers is about to take a huge step forward, as the city’s Economic Development Corp. closes in on selecting a developer for the first-two floors of the Brooklyn Municipal Building. The Wall Street Journal said the city has been vacating its office spaces in the lower levels of prime Downtown Brooklyn buildings and moving to higher floors to free retail space and bolster local development. The EDC issued a request for proposals for the 37,000-square-foot space in the municipal building at 210 Joralemon Street in December, and also vacated nearby 345 Adams Street, which has already signed leases with Panera Bread and Morton’s Steakhouse.
Joe Chan, president of the Downtown Brooklyn Partnership, said retail in the area is experiencing a renaissance, but hopes to retain stores that offer options at all price points. Borough President Marty Markowitz agreed, adding: “It’s The Premiere Shopping Street in all of Brooklyn, a mix of everything including affluence and lower income. It’s going to be the great equalizer.” [WSJ]