Dennis W. RussoReal Estate Finance
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CPCR - Domino Sugar Redevelopment - Acquisition, Financing and Development
Representation of The Community Preservation Corporation and its affiliates in connection with the acquisition, financing, development, and rezoning of the sprawling 11.5-acre waterfront complex in Williamsburg, Brooklyn, that was formerly home to Domino Sugar. The project will be one of the largest residential redevelopment projects in the city and will include two 40-story towers, several mid-rise buildings, approximately 2,200 residential apartments—some 30% of which of will be affordable—covering more than two million square feet. 220,000 square feet of retail, commercial and community space will serve those residences, in addition to large expanses of open space, a public waterfront esplanade, and new connections to the East River waterfront. In addition to the complicated acquisition, financing and development work inherent in a project of this scale, Herrick laid the groundwork for the formal land use and environmental review process, collaborating with Mayor Bloomberg's office, community leaders, and city and state departments and agencies on the design and development. This work included obtaining approval from the New York City Council's Land Use Committee, the New York City Landmarks Preservation Commission, special permits pursuant to a zoning resolution by the New York City Planning Commission, and approvals from the New York State Department of Parks, Recreation, and Historic Preservation, the New York State Department of Environmental Conservation, and the U.S. Army Corps of Engineers.
Representation of The Community Preservation Corporation and its affiliates in connection with the acquisition, financing, development, and rezoning of the sprawling 11.5-acre waterfront complex in Williamsburg, Brooklyn, that was formerly home to Domino Sugar. The project will be one of the largest residential redevelopment projects in the city and will include two 40-story towers, several mid-rise buildings, approximately 2,200 residential apartments—some 30% of which of will be affordable—covering more than two million square feet. 220,000 square feet of retail, commercial and community space will serve those residences, in addition to large expanses of open space, a public waterfront esplanade, and new connections to the East River waterfront. In addition to the complicated acquisition, financing and development work inherent in a project of this scale, Herrick laid the groundwork for the formal land use and environmental review process, collaborating with Mayor Bloomberg's office, community leaders, and city and state departments and agencies on the design and development. This work included obtaining approval from the New York City Council's Land Use Committee, the New York City Landmarks Preservation Commission, special permits pursuant to a zoning resolution by the New York City Planning Commission, and approvals from the New York State Department of Parks, Recreation, and Historic Preservation, the New York State Department of Environmental Conservation, and the U.S. Army Corps of Engineers.
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