Last week, media-focused investment firm Great Point Capital Management signed on entertainment company Lionsgate as its anchor tenant for a new $100 million production-studio development in Yonkers. Lionsgate will also be an investor in the project that includes five studios and a back lot near the Yonkers downtown Metro-North train station. Also a partner in the joint venture is developer National Resources.
Exterior work is wrapping up on One South First, the tallest new building to be constructed in the Williamsburg waterfront development of Domino Park. Formally addressed as 260 Kent Avenue, the reinforced concrete structure rises on the northern end of the master plan and is part of the large-scale revitalization of the Domino Sugar factory site. The 435-foot-tall mixed-use project will soon yield 330 rentals, 66 affordable units, and 150,000 square feet of office space among 22 floors, as well as 13,000 square feet of ground-floor retail space. COOKFOX is the architect of the tower and Two Trees Management is the developer.
Work on 187 Kent Avenue‘s exterior is nearing completion in Williamsburg, Brooklyn. The industrial-inspired red masonry façade with its scattered pattern of white bricks is fully installed, and the structure is just awaiting the completion of appointments on the tall lower-level arches. Diego Aguilera Architects P.C. is the architect of record for the seven-story mixed-use residential building, while CW Realty Management, which purchased the site for $43 million, is the developer. 187 Kent Avenue will yield 140,036 square feet of newly built space.
In an exciting announcement from the Office of Governor Cuomo, the state has awarded development rights and construction funding for four new housing projects that will collectively create more than 2,700 affordable-supportive residential units. Herkimer Gardens, located at 483 Herkimer Street in Bed-Stuy, Brooklyn, is one of the projects to receive funding and approvals from the Governor’s $1.4 billion “Vital Brooklyn” housing initiative.
Permits have been filed for a six-story mixed-use building at 1699 East New York Avenue in Brownsville, Brooklyn. Located between Dean Street and Powell Street, the lot is two blocks from the Atlantic Avenue subway station, serviced by the L train. Dianping Chen is listed as the owner behind the applications.