Brooklyn could be poised for a building boom, according to The Wall Street Journal. The borough will have as many as 14,000 new residential units in the coming years, compared to Manhattan, where only 5,000 new units are in the pipeline, says a new report. Developers such as AvalonBay Communities Inc., Stahl Real Estate, and Douglaston Development already have large new projects planned for Downtown Brooklyn and the Williamsburg waterfront in the next few years. The report quoted by the Journal, by consultant Nancy Packes, also says that 34 percent of Brooklyn renters are tech or creative workers.
January 19, 2012 - 9:37am