Industry City Ditches Plans For College Dorms in Sunset Park

The Industry City megaproject in Sunset Park will no longer have college dormitories, Crain's reports. Lead developer Jamestown Properties nixed plans for the dorms after local residents and City Councilman Carlos Menchaca voiced their opposition about bringing housing to the industrial area.

The development consortium on the megaproject, that also includes Angelo Gordon and Belvedere Capital, is looking to rezone the 32-acre waterfront site in order to build retail and two hotels.

At one point both New York University and the City University of New York had shown interest in creating dorms at the complex, according to Crain's. Both were also interested in opening educational facilities at the site.

The $1 billion redevelopment of this site was announced last year, and developers are looking to transform the site into a hub for manufacturers and creative types over the the next ten years.

The developers have already invested $125 million into the complex since they purchased it three years ago. That money has mostly gone towards maintenance and infrastructural work like replacing windows and fixing elevators.

The hotel and retail will help the developers recover part of their investment, according to Crain's. Since Jamestown's purchase The Brooklyn Nets have opened a facility at Industry City as have Time Magazine and MarkerBot.

The rezoning process is set to begin by the end of the year, according to Crain's.

• Developers of hipster industrial complex give it the old college try—and fail [Crain's]
• Developers Want To Spend $1B, Build a Hotel in Industry City [Curbed]
• Massive Industry City Redevelopment Will Look Like This [Curbed]