Kaboom! $80M ammo depot rehab fuels explosive Navy Yard growth
The Brooklyn Navy Yard on Wednesday announced that a 1 million-square-foot warehouse building will be renovated to the tune of $80 million.
Known as Building 77, the 16-story former ammunition depot will be transformed into a modern, sustainable hub for manufacturing and technology innovation, anchoring the new Brooklyn Technology Triangle.
The reuse of the building will result in the creation of up to 1,500 new jobs at the Navy Yard over the next five years.
To launch the redevelopment of Building 77 – which contains approximately 25 percent of Brooklyn Navy Yard’s built space – Brooklyn Navy Yard Development Corporation (BNYDC) will lease 240,000 square feet to Jack Basch, a Brooklyn-based developer and entrepreneur.
Basch is the owner and CEO of Shiel Medical Laboratories, the Navy Yard’s fastest-growing business and job creator, which will occupy at least one floor.