Saturday, May 26, 2012

Brooklyn's Fulton Mall Transforms into City Point

The transformation of Fulton Mall from a Downtown Brooklyn den of cheap cellphone outlets and fast-food joints the more upscale City Point shopping hub is set to take a significant step forward with a deal to open a Century 21 Department Store.

The popular discount retailer would provide a high-profile anchor for the City Point development, a mix of mostly retail and apartments that is one of the largest projects under way in Brooklyn.

It would be the first new traditional department store to open in Downtown Brooklyn since the area slid into decline in the 1970s. Now there’s finally word that Century 21 will be the anchor tenant for the first phase of City Point in Downtown Brooklyn.

The retailer doesn’t intend to open in the location until fall of 2015, but notes that it is set to be twice as big as its Upper West Side location. The transformation we’re witnessing of the Fulton Mall—and the larger Downtown area—is nothing shy of historic for Brooklyn.

The agreement cements City Point’s developers’ ability to start moving forward on the second phase of the project this summer: 675,000 square feet of retail and commercial space and 690 new market-rate and affordable’apartment units at Dekalb and Flatbush Avenues.

City Point's third phase, includes what is slated to be the tallest residential tower in Brooklyn.