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Acadia Plans $120M Brooklyn Project

NAPLES, FL-Acadia Realty Trust plans to turn an old mall and garage in Brooklyn, NY into a 1.6 million sf mixed-use complex.

By Beverly Ford | Updated on March 06, 2007

NAPLES, FL- Acadia Realty Trust will build a $120 million, 1.6-million-sf, mixed-use complex called “The Center at Albee Square” in downtown Brooklyn in a venture that could bring the highest residential building to that New York City borough.

Kenneth F. Bernstein, president and CEO of the White Plains, NY-based real estate investment trust, told participants at the Citigroup 2007 Global Property CEO Conference in Naples, FL that hearings on the project are expected to begin within 30 days.

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