Wednesday, March 4, 2015

Developer Breaks Ground on Huge Domino Sugar Project

Just a year after it looked as if the massive redevelopment project on the Williamsburg waterfront may never happen, Two Trees Management has broken ground for the first of five giant towers planned for the site. Construction of the zinc and copper-clad building - with hole in the middle like a giant doughnut - will begin rising at 329 Kent Avenue, a vacant lot bordered by Kent and Wythe avenues and South 3rd and 4th streets. The building at Site E, which will have 500 rental units, including 105 affordable units, is expected to be completed by spring 2017, at an estimated cost of more than $200 million.
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Now that demolition has been completed at the 11 acre Domino Sugar Refinery site, Two Trees Management has begun construction on its first new building at the 2.95 million-square-foot waterfront complex — a 16-story apartment house with approximately 105 units earmarked for low-income New Yorkers.

The building at Site E, between South 3rd and 4th Streets, will be the only tower not located on the waterfront. 
The developer has also announced plans for a 30-story building at 262 Kent Avenue, which will be a mixed-use tower rising 320 feet and holding 281,869 square feet, split equally between commercial and residential space.

The building will host about 142,000 square feet of office space on the second through 17th floors in the structure’s north wing -- the most office space within the new towers. 

The remainder of the space will be spread out among 93 residential units beginning on the fourth floor of the building’s south wing.  Rental apartments will be relatively large, averaging about 1,500 square feet. The tower will also house commercial and retail space on the ground level.

Office space is a key component of Jed Walentas’ vision for the mega-development. Earlier this year, he asked the city for a rezoning of the property, allowing for an additional 382,000 square feet.

The majority of the project’s office space will be housed in the renovated refinery building. Two other buildings planned for the site, while larger, will be more residential-oriented.

The project’s southernmost building will be constructed on Site D, located at 320 Kent Avenue. That tower will climb 36 stories and house 470,106 square feet of space, more than 90% of which will be residential apartments. The building will have 41,801 square feet of commercial space.

The bulky 35-story building at 2 Grand Street will contain approximately 785,888 square feet, housing 658 residential units (half of which will be reserved for below-market rentals),  with a public school below.
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Plans for the tower which will rise on Site B, located between the factory and 262 Kent Avenue, are expected to be announced later this year.

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