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Deal Reportedly Clears Way for Industry City Rezoning
Ahead of a public meeting Monday at which he’ll deliver his final verdict, Brooklyn Councilman Carlos Menchaca has reportedly reached a deal with the owners of Industry City that will allow them to begin rezoning it.
Menchaca had blocked the Brooklyn waterfront complex’s owners, including Jamestown, Belvedere Capital and Angelo Gordon, from beginning the rezoning earlier this year. He cited concerns that the rezoning wouldn’t create enough opportunities for neighborhood residents.
The deal would require Industry City to reserve up to 900,000 of the complex’s five million square feet for manufacturing, and lease a portion of that space to a yet-to-be-determined nonprofit, Crain’s New York Business reported.
The preserved manufacturing space would be equal to the amount of retail space that the complex’s owners want to develop. There would also be a vocational school totaling around 50,000 square feet.
However, a Menchaca spokesman told Crain’s no deal has yet been reached.
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