Maybe all the developers of Williamsburg's controversial New Domino project ever wanted was to beat the plan's opponents in court. Because instead of beginning construction on the $2 billion project following city and judicial approval, the developers are offering up some or all of the site for sale, according to the Commercial Observer. (Last we heard, they were just looking for additional investors.) The approved plan for the site calls for 2,200 residential units, two 34-story towers, two additional buildings of up to 30-stories, and the restoration of the Domino Sugar Factory.
Why sell? The project has some built-in challenges, including the work needed to restore the Domino building and the environmental remediation needed on the site before anyone can live there. The idea that they might want to live there in condos, rather than rentals, is also a bit at odds with the current Williamsburg market. So, er, anyone want to take on this megaproject?
· Domino Factory Site Up for Sale [Commercial Observer]
· New Domino coverage [Curbed]
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