Boston Properties, Inc., Rudin Development and WeWork, in conjunction with the Brooklyn Navy Yard Development Corporation, announced this week that, under a joint initiative, the companies will be developing a new 675,000-square-foot building at the Brooklyn Navy Yard to cater to the rapidly emerging technology and creative industries in Brooklyn. The new building, dubbed Dock 72 at The Brooklyn Navy Yard, is a $380 million project scheduled to begin in late 2015 with an anticipated tenant delivery in late 2017. The building design created by S9 Architecture, an affiliate of Perkins Eastman, is designed to drive innovation and collaboration between tenants. According to the agreement between the development team and BNYDC, all tenants in the building will pay a living wage to their employees, making it the first new development in Brooklyn with such a commitment.
"From start-ups to expanding firms, this new workspace is going to put thousands of New Yorkers to work and help launch the next great wave of home-grown innovation. We are growing the Navy Yard's capacity for manufacturing, tech and the maker economy faster than any time in its modern history. We are thrilled to work with Boston Properties, Rudin Development and WeWork to bring this new space online and keep building on the Navy Yard's incredible success story," said NYC Deputy Mayor for Housing and Economic Development Alicia Glen.
"The tenants that occupy this new building will contribute to the modern industrial ecosystem of the Yard—where technology, design and manufacturing converge. The shared work space will nurture hundreds of small businesses and spark the next generation of large-scale employers in the Yard," added BNYDC President and CEO David Ehrenberg. "Furthermore, this type of large, private-sector investment signals a watershed moment in the growth of the Brooklyn Navy Yard. Thanks to this vote of confidence from respected investors and developers and this partnership with WeWork, BNYDC will be able to attract additional top creative and industrial firms that will create thousands of jobs for local residents."
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