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Navy Yard, Other Brooklyn Projects Benefit from EB-5 Capital
Connect Industrial is coming up on July 11 in Chicago. Here’s a link for more information about the conference and to register.
Redevelopment of multiple unused buildings at the Brooklyn Navy Yard (pictured) is among the 15 projects completed partly through EB-5 funds via the New York City Regional Center. More than half the $1.5 billion in capital raised through the NYCRC since 2009 has gone to projects in Brooklyn, including $339 million at the Navy Yard.
The City Point retail complex and the Atlantic Yards mixed-use development, both in downtown Brooklyn, also received EB-5 funding through the NYCRC. Other projects citywide have included phase 1 of Fresh Direct’s new food processing and distribution facility in the South Bronx, and the installation of a new wireless infrastructure network in subway stations.
“The job creation resulting from millions of square feet of new development and major infrastructure improvements is significant, and we are happy to have helped finance this effort,” said Paul Levinsohn, managing director of the NYCRC.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
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