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Red Hook Waterfront Tech Complex May Have Funding Problems

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Cushman & Wakefield is no longer on the project

Italian developer Est4te Four’s plans for an over 1.1-million-square-foot site on the Red Hook waterfront, dubbed Innovation Studios, have been in the works for over two years, but there might be a small bump in the road. As a refresher, the plans include an existing red building at 202 Coffey Street, to be used as an events space, with space on the campus for manufacturing, retail, and office space, plus a hotel and "marine education school." Now, here’s the potential bump. Last summer, it brought on Cushman & Wakefield to help find an equity partner. The firm is no longer attached, the Brooklyn Daily Eagle reported.

What does this mean for the project? Is it still going forward? NBBJ, an architecture firm working on it, told the Eagle that it is "continuing to work with the client to design and refine the project." Raft Architects is also part of the project. Stay tuned.

As a reminder, here's a look at what Est4te Four is trying to pull off.

What's next for Est4te Four's Red Hook Innovation Studios project? [Brooklyn Daily Eagle]

Red Hook's Huge Waterfront Tech Complex Revamps Design [Curbed]

Massive Tech Complex Floated For The Red Hook Waterfront [Curbed]