Domino Developers: Pour Some Sugar on Us

Wow, talk about big news on the Williamsburg waterfront: The Commercial Observer reports that developers Community Preservation Corporation and the Katan Group have been looking to sell all or parts of the Domino factory development to new buyers. The massive project, which was green-lighted in 2010, was supposed to involve the restoration of the factory in addition to the construction of several high rises. The development was supposed to result in 2,200 residential units, 660 of which would be affordable. The real estate folks the Observer quotes in the article point to several challenges the project faced, including the onus of constructing so much affordable housing and the high cost of renovating the factory itself. What’s surprising about highlighting those issues is that they were certainly obstacles as of a couple years ago, which was when the the project was approved and well after the market crash. Aside from Atlantic Yards, Domino is the biggest (would-be) development planned in Brooklyn.

UPDATE: If you’d like to get caught up on the entire history of the Domino redevelopment efforts, check out our Pinterest board on the subject.

Domino Factory Site Up For Sale [Commercial Observer]
Photo by asfseventy3