Last week, news spread about plans for a retail/entertainment complex in Bushwick that broker Andrew Clemens described as a "grittier Chelsea Market." North Development Corp. is behind the project, which has been in the works since the developer bought the building for $12.5 million this summer. The one-story structure takes up a whole block that's bound by Morgan Avenue and Bogart, Harrison, and Ingraham streets, and currently, it hosts a few industrial tenants. Under the new plan, according to the Brooklyn Paper, those tenants would stay put, and the rest of the space would be filled with shops, studios, restaurants, and bars, plus possibly a hostel or indie movie theater if a second story is built. The building would be renovated to have glass storefronts to give it a street presence.
For the most part residents were surprised by the plans, as they seem similar to the Loom, a successful artisan retail mall that opened in Bushwick in 2010. And of course, "If it's slick and corporate, I don't think this neighborhood will go for it," said the owner of a popular bar.
The Wyckoff Heights blog dug up a bit more info about developer North Development Corp., and they are very familiar with the North Brooklyn real estate landscape. The company, run by Isaac Hager, is involved with several projects, and Wyckoff Heights points out the least successful: Karl Fischer's 20 Bayard Street, which filed for bankruptcy; the lots at 421-431 Kent Avenue and 464-474 Wythe Avenue, where two residential buildings were planned, but Hager defaulted on the mortgage, was sued, and sold the lots this year; and 85 Flatbush Avenue, where a residential building was planned, but went into forelcosure earlier this year. Hm. Should be interesting to see how this gritty mall works out.
· Shopping Center for Bushwick [Brooklyn Paper]
· New retail development proposed near Morgan L [Wyckoff Heights]
· There Are Plans for a "Grittier Chelsea Market" in Bushwick [Racked NY]