NYCEDC Announces Developer for Federal Building in Sunset Park
Salmar Properties, New York was selected to develop Federal Building #2, a vacant, 1.1 million-sq-ft warehouse building in Sunset Park, into a state-of-the-art industrial center. The selection was announced by the New York City Economic Development Corporation, along with Congressman Jerrold Nadler and Congresswoman Nydia M. Velázquez.
The project will be consistent with the Sunset Park Waterfront Vision Plan for a modern industrial waterfront that is also environmentally sustainable and is expected to create 1,300 permanent industrial jobs and 400 construction jobs. The federal building development project is also part of Mayor Michael Bloomberg’s Waterfront Vision and Enhancement Strategy, a $3 billion plan announced in March that aims to improve the city’s waterways.
The majority of the building will be limited to light industrial uses through a deed restriction of 30 years. Salmar Properties must also fulfill minimum build requirements within two years of the deed date.