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Article: IDA assistance will help spur $103m in private investment.(FINANCE)(Industrial Development Agency)
- Article from:
- Real Estate Weekly
- Article date:
- February 21, 2007
CopyrightCOPYRIGHT 2007 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York City Industrial Development Agency (IDA) approved financing assistance for the office component of a mixed-use development in Downtown Brooklyn that will serve as the City's first major commercial project constructed in the area since its 2004 rezoning.
The $60.4 million office component of the project is expected to create more than 470 construction jobs over three years and provide office space for about 500 permanent jobs. IDA Board also approved financing assistance to four industrial companies and one not-for-profit organization in Brooklyn, Queens and the Bronx. IDA is administered by the New York City Economic Development Corporation.
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