The project will redevelop a section of the navy yard known as Admirals' Row, which contains 11 long-unused structures originally built as officer's quarters by the Navy in the 19th century. Two of the properties will be incorporated into the development: Building B, the oldest and largest of the 10 row houses along Admirals' Row, and the Timber Shed, believed to be the only such structure in the US.
According to the BNYDC, PA will enter into a long-term lease for the site, with the project scheduled to break ground by 2012. Coming before that will be the federal government's transfer of the Admirals' Row site to the city, which owns the 300-acre Brooklyn Navy Yard property.
"Our goal is to put this property back to productive use and proceed as soon as possible," says Andrew Kimball, president and CEO of the BNYDC, in a statement. "We are looking forward to continuing to work with the community and the federal government to complete site acquisition so that construction can begin."
The project will contain sustainable elements, with the new buildings on the site aiming for LEED Silver certification. It will also incorporate the BNYDC's community participation goals in terms of awarding contracts.
The PA/ShopRite team was selected from a pool of eight respondents to the July 2009 RFP. Timothy King, principal of CPEX Real Estate, advised the BNYDC in its selection process.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
