BROOKLYN, NY-Two Trees Management's plan for the Domino Sugar Factory site just moved a step closer to reality. The complex, generally well-received idea for the development, has begun the Uniform Land Use Review Procedure.
While the process itself takes several months, it calls for specific steps and deadlines; while getting to this stage is much more arduous. Two Trees executives were not available at press time to comment on the milestone.
As previously reported the Domino site will include over 630,000 square feet of office space, 2.3 million square feet of residential space, 79,000 square feet of retail offerings, a park and even a 140,000-square foot school or recreational facility. The project is expected to take 10 to 15 years to build and to cost $1.5 billion dollars. Two Trees hopes to break ground next year.
The project's first step, according to Crain's New York, would be a 16-story residential tower where about half of the 400 units will be affordable. In all plans call for more than 2,200 apartments.
The project is one of the first major undertakings to begin its approval process under the Bloomberg administration and end with a new mayor and a drastically altered City Council, Crain's notes.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
