City to add 500,000 s/f to Brooklyn Navy Yard.

Mayor Michael R. Bloomberg and Brooklyn Navy Yard Development Corporation (BNYDC) President Eric Deutsch unveiled a strategic plan to create an additional 500,000 square feet of industrial and retail space at the Brooklyn navy yard.

The expansion plan is expected to generate between 500 and 800 new jobs at the Navy Yard within the next three to five years.

To underscore market demand for industrial space within the city, the Mayor also announced that thirty-eight industrial firms representing a total workforce of 380 employees--and occupying a total of 422,300 square feet--had decided either to locate, expand or renew their leases at the Brooklyn Navy Yard over the past six months.

Brooklyn Borough President Marty Markowitz, Council Members Letitia James and Albert Vann, Brooklyn Navy Yard Development Chairman and Independence Community Board President & CEO Alan Fishman, and Duggal Visual Solutions President Baldev Duggal joined the Mayor for the announcement at the Navy Yard. "The Navy Yard, with more than 220 private-sector tenants providing 4,000 jobs, is a great example of a place where the City's industrial sector can flourish and provide important employment opportunities," said BNYDC Chairman and Independence Community Board President & CEO Alan Fishman.

"Our vision for the expansion of the Navy Yard builds upon our current success, and allows for both the expansion of current tenants and the attraction of new firms."

BNYDC President Eric Deutsch, added, "The Navy Yard offers a secure, supportive manufacturing environment, and the strategic plan would increase the amount of available space by targeting large parcels of underutilized and developable land, while also nurturing industries already thriving in the Yard.

"We are prepared to work with industrial companies to meet their needs, and look forward to full implementation of the plan."

Building on the success of the Navy Yard's existing 3.5 million square feet of space, which is 97% occupied, the city through BNYDC will help generate new industrial capacity at the Brooklyn Navy Yard as part of a strategic plan that calls for creation of as much as 500,000 square feet of additional industrial space in the 300-acre industrial park's western section.

The new industrial expansion would extend into land now made available through the shrinkage of the NYPD tow pound located at the corner of Sands and Navy Streets. In addition, the City will improve underutilized sections of the original Navy Yard to rejuvenate Brooklyn's Flushing Avenue Corridor through the creation of new neighborhood-oriented retail space. The strategic plan's vision segments the Yard into the following three zones: West Side District: This zone includes 20 acres of developable land targeted for the development of several new industrial facilities with as much as 500,000 square feet of space, as well as new, neighborhood-oriented retail space.

The new retail space is expected to provide additional amenities and improve the quality of life in the surrounding communities by making the Brooklyn Navy Yard a more attractive neighbor.

The strategic plan would increase the number of manufacturing sites, including the launch of a new, large-scale, food manufacturing complex with shared freezer and refrigeration capabilities. The food complex, projected to commence construction in 2006, would be more than 100,000 square feet in size. BNYDC plans to initiate expansion activity in this district next year by breaking ground for some 180,000 square feet of industrial space.

East Side District: This zone is comprised of extensive, developable property, including the recently acquired grounds of the former Naval Hospital. The district could accommodate a mix of industrial, film studio, office and retail facilities.

Waterfront District: The Brooklyn Navy Yard Development Corporation will continue to operate the Navy Yard's waterfront as a regional maritime resource. This district is currently fully tenanted with maritime businesses utilizing its three dry docks and four piers as well as extensive berthing space.

BNYDC, along with new and growing Navy Yard tenants, will bear expansion costs associated with the construction of new buildings at the industrial park, which will be financed with private dollars.

The city is providing $71 million from its capital budget targeted toward infrastructure improvements at the Navy Yard like roads, sewers and electrical, over the next five years. Over the past six months, 38 industrial firms have decided to locate, expand or renew their leases at the Brooklyn Navy Yard.