Work Under Way at Walentas Hotel in Willyburg
Given that Two Trees was required to break ground before the new year as a condition of the $15 million in tax-exempt financing it received last November, it come as no surprise that when we passed by earlier this week the crew appeared hard at work and there was a construction elevator was already set…
Given that Two Trees was required to break ground before the new year as a condition of the $15 million in tax-exempt financing it received last November, it come as no surprise that when we passed by earlier this week the crew appeared hard at work and there was a construction elevator was already set up on the exterior of the five-story brick building. As you may recall, the Dumbo developers are planning a 73-room boutique hotel that, from what we hear, will blow away any other hotel in the borough in terms of tastefulness and hipness. We’re predicting over-the-top success on this one.
Walentas Hotel Awarded Tax-Free Funds [Brownstoner]
W’burg Hotel Financing Up for Review, Debate [Brownstoner]
Two Trees Closes on W’burg Hotel Property [Brownstoner]
“We’re predicting over-the-top success on this one.”
You’ve set the bar pretty high. But I don’t think it’s a stretch to predict success for this place. To what degree remains to be seen.
“Will blow away any other hotel in the borough in terms of tastefulness and hipness.” Hmm Walentas and hip? Will it use the same fixtures found at all Two Trees/Walentas developments? MAybe painted plywood in the hallways?
So cool!
“If it’s done well, there’d be nothing wrong with that, DH…”
true, and much better than the gansevoort rip-off that’s opening a couple blocks away
Industrial jobs not growing, shrinking
Hotel and Restaurant jobs are our ‘industrial’ now, meaning don’t need college degrees, don’t need english, can be young these jobs are a must
jessibaby nailed it and done because hotel financing ridiculously expensive
this will be place for BK Bowl artists to stay and i hear will get a very cool restaurant on ground floor
Rob – the city was allotted a certain amount of bonds – nobody else that was qualified to get a deal done wanted them so Walentas lucked out. Had he not received them, nobody else would have – boutique hotel better than nothing in terms of adding jobs, etc. As for the tax exempt part, all this means is people that own the bonds don’t pay taxes on the interest they earn.
Interesting that Two Trees is expanding out beyond the reach of its arch-nemesis, the Brooklyn Heights Association.
If it’s done well, there’d be nothing wrong with that, DH…
That building will clean up nicely.