clock menu more-arrow no yes

Filed under:

Long-Vacant Corner in Boerum Hill to See Development

New, 1 comment

Development will soon begin on a a corner in Boerum Hill that has long sat empty, the Commercial Observer reports.

The lot at the corner of Smith and Douglass Streets has been vacant since 2006, when the group of single-story buildings were demolished. As neighborhood blog Pardon Me for Asking points out, a "jungle" has sprouted up on the lot in the intervening years, and its owner has wracked up a sizable amount of violations and complaints from neighbors.

However, now, Second Development Services has secured a $9 million loan to buy a majority interest and develop the site. The short-term loan is being provided by Madison Realty Capital.

According to Louis Greco of SDS, the developer plans to build a three-story, 15,000-square-foot retail building on the site. The project is scheduled to break ground in the fall and will likely be completed by the summer of 2016. The building is also pre-leased and will have a single tenant.
· Madison Realty Capital Lends On Smith Street Development [Commercial Observer]
· A Jungle Grows on Smith Street [Pardon Me for Asking]