City Point Breaks Ground

According to a press release sent out yesterday by the developer, ground has been been broken on the first stage of the development in Downtown Brooklyn known as City Point. The first building, which replaces the old Albee Square Mall and fronts on the new pedestrian plaza being constructed outside the landmarked Dime Savings Bank, will be a four-story structure with 50,000 square feet of retail space; developed by Acadia Realty Trust and designed by Cook + Fox and Greenberg Farrow (not sure who’s doing what), One Dekalb will be the first new building on the Fulton Mall “in decades,” according to the release. This first building is barely a drop in the bucket of what’s supposed to get built on the 127,000-square-foot site fronting on Flatbush Avenue: 1.5 million square feet of new space with commercial, retail and residential components. As you may recall, the project was recently a recipient of $20 million in what’s called Recovery Zone Facility bond financing–basically money made possible by the federal stimulus package.
City Point’s One Dekalb Revealed [Brownstoner] GMAP
One Small Step Forward for City Point Project [Brownstoner]
City Point Heads to Design Commission Next Week [Brownstoner]
City Point: Half Now, Half Later [Brownstoner]
Development Watch: Albee Square Mall Gets Gutted [Brownstoner]