Schumer calls for $2.5M for Navy Yard project
Brooklyn Navy Yard’s Building 77 Expansion Project Will Provide Space for Thousands of Jobs
U.S. Sen. Chuck Schumer on Tuesday urged the U.S. Economic Development Administration (EDA) to provide $2.5 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 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 said renovating this building will allow Brooklyn Navy Yard to accommodate even more businesses.
The Brooklyn Navy Yard Development Corporation 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; Brooklyn Navy Yard is requesting $2.5 million in federal EDA funds and will provide the cost difference. In a personal call, Schumer urged EDA to award the Brooklyn Navy Yard Development Corporation funding for the expansion project.
“The renaissance of Brooklyn Navy Yard is an economic development and job-creation miracle that — at 99 percent capacity — is busting at the seams. The bottom line is that the Navy Yard must have the ability to expand and renovate its existing buildings to attract even more small-to-medium-sized businesses to bring in even more jobs, jobs, jobs,” said Schumer.
Building 77 of the Brooklyn Navy Yard is currently owned by New York City and is being transformed into a hub for private manufacturing. New York City is investing $140 million in the expansion. If granted funding from the EDA, Schumer said the award would help grow the local economy by adding approximately 3,000 jobs.