Pepper & Potter Prepped for Demo
In 2008, Magna Hospitality Group plunked down more than $10 million for the site of the former Pepper & Potter car dealership at the corner of Flatbush and Tillary only to end up faced with one of the worst financing environments in recent memory. Luckily for them and the 117-room hotel they wanted to build,…
In 2008, Magna Hospitality Group plunked down more than $10 million for the site of the former Pepper & Potter car dealership at the corner of Flatbush and Tillary only to end up faced with one of the worst financing environments in recent memory. Luckily for them and the 117-room hotel they wanted to build, though, they ended up being a lucky recipient of federal stimulus funding to the tune of $20 million. For the last several months, the building’s been undergoing asbestos abatement, a process which we gather concluded last week (photo). As a result, demolition should start imminently. Stay tuned.
Stimulus Boost for Downtown Brooklyn Hotel [Brownstoner]
From Cars to Mini-Fridges on Tillary [Brownstoner] GMAP
I always thought that little building would make a great bar, a la Union Pool. Granted, you’d be crazy to open a bar that big on the corner of Tillary and Flatbush, but it was a cool little building.
Wow what an incredibly poor use of stimulus funding, a low cost motel/hotel with relatively few employees….
I believe, in the end, Magna did not get stimulus money.
This is great news, especially since the extra foot traffic will draw consumers to the shops at BKLN Gold, and the Oro/Avalon retail spots still TBD. Once this is completed, and the Flatiron across Tillary, there will be a finished look to the Flatbush Extension finally.