Inside the $1 Billion 'Hipster Mega-Project' at Brooklyn's Sunset Park

Henry Melcher reports on the massive investment plans for Industry City in Sunset Park, Brooklyn.

1 minute read

April 17, 2015, 9:00 AM PDT

According to Henry Melcher, the team behind Chelsea Market—Jamestown Properties, Belvedere Capital, and Angelo, and Gordon & Co.—will invest "$890 million into the complex, turning it into a so-called 'innovation hub,' creating more than 13,000 on-site jobs over the next 12 years." The investment follows a $100 million in 2013, which helped lease 850,000 square feet of the property.

Melcher adds: "When complete, two-thirds of Industry City will be geared toward 'innovation,' while the rest of the complex would house academic institutions, warehouse facilities, and retail. There are also plans for a hotel and a significant new surface level parking lot at the site."

Melcher also quotes Industry City CEO Andrew Kimball in countering characterizations of the project as a "hipster mega-project" when announced in March.

FULL STORY: INNOVATION IN SUNSET PARK

Thursday, April 16, 2015 in The Architect's Newspaper

Urban Development New York New York City Brooklyn Sunset Park Industry City Innovation Districts Innovation Hubs View More

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Start Learning

Advertise with us

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.