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Industry City Withdraws Rezoning Proposal
The partnership that owns Industry City on Wednesday withdrew its application for a rezoning that would have added more commercial space along with food and retail spaces. The proposal for additional development at the Brooklyn waterfront complex, owned by Jamestown, Belvedere Capital and Angelo, Gordon, drew community opposition, notably from City Councilman Carlos Menchaca.
Despite broad-based support for the project from civic and business leaders, “it is clear that the current political environment and a lack of leadership precludes a path forward for our rezoning proposal,” Industry City CEO Andrew Kimball said in a statement.
Real Estate Board of New York president James Whelan said, “New York City has been failed by its political leadership across all levels of government. With unemployment approaching Great Depression levels and private investment and tax revenue dramatically plummeting, now was the time for negotiations to yield a ‘yes’ on the Industry City rezoning.”
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