Brooklyn has cleared another hurdle on the path to becoming a techcology center set to rival Midtown South, the New York Times reported. The Brooklyn Navy Yard Development Corporation and developer Douglas Steiner have reached an agreement to convert the Naval Annex Historic Campus, the perhaps most neglected section of the Navy Yard, into a media, technology and film hub.
Steiner owns the nearby Steiner Studios, and other investment properties in Brooklyn, and would link the project to his film studio to create a 50-acre tech and media campus, he told the Times.
The proposal is contingent on city, state and federal financing. If approved and financed, the new project would cost about $400 million, take 12 years to build, and potentially create 2,500 jobs, the Times said. [NYT] — Guelda Voien