Schumer announces $2M for Brooklyn Navy Yard’s Building 77
Expansion Project Nears Finish Line; Will Provide Space for 3,000 Jobs
U.S. Sen. Chuck Schumer on Monday announced that after his push, the U.S. Economic Development Administration (EDA) will provide a commitment letter for $2 million in federal grant funding for the Brooklyn Navy Yard’s jobs expansion project, which will go toward renovating two floors of Building 77 to create move-in ready 3,000-5,000-square-foot units for small- and medium-sized businesses.
The letter means that EDA intends to move forward and fund the project in Brooklyn, but that some small details still need to be worked out between the Navy Yard and the EDA in the coming weeks. The Brooklyn Navy Yard’s 4.5 million square feet of leasable space is already 99 percent occupied with more than 330 businesses, including 5,000 employees. Schumer explained that renovating this building will allow Brooklyn Navy Yard to accommodate even more businesses.
The Brooklyn Navy Yard Development Corporation (BNYDC) recently submitted an application for funding to the EDA. The application is for the Public Works and Economic Adjust Assistance Program. The total project cost is $5 million. In April, in a personal call, Schumer urged EDA to award the Brooklyn Navy Yard Development Corporation funding for the expansion project.