Little action seen on Thor Equities’ Red Hook waterfront project

August 27, 2018 By Raanan Geberer Brooklyn Daily Eagle

Red Hook Stores, where Fairway Market is located. Eagle file photo by Lore Croghan

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Two years after Thor Equities filed plans for a 45,103-square-foot waterfront development called Red Hook Point at the site of the old Revere Sugar Factory, construction has yet to begin. The timber-frame development was supposed to contain offices, stores and restaurants. However, according to Brownstoner, the company is now considering a switch to industrial development, in which case construction plans would have to be changed.

Meanwhile, an application for a building permit for the site that was first filed in 2016 was finally approved last Tuesday, Brownstoner said. While there has been no actual construction, workers on the site have periodically been seen moving piles of dirt around with heavy equipment. Local residents voiced concerns at a meeting of Community Board 6 in February that Thor might flip the property, but real-estate lawyer Eric Knowles, who was at the meeting, denied this. The site is located at 270 Richards St., between Ikea and Fairway.