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Condo A No-Go? Developer Moves To Sell Domino Sugar Factory Site, Sources Say
By
James Thilman
Published Mar 13, 2012
Modified Mar 13, 2012
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By
James Thilman
Published Mar 13, 2012
Modified Mar 13, 2012
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Just a year after the controversial megaproject at the old Domino Sugar refinery in Williamsburg got the green light, the developers are reportedly looking to dump the property to the highest bidder. According to the Commercial Observer, the massive (unbuilt) development, dubbed the New Domino, is shovel-ready, after handily clearing a number of hurdles that had stalled construction for years.
The project was initially popular with community leaders because of its emphasis on affordable housing, but some soured on it upon learning that just 30 percent of the 2,200 residential units would be available at below-market rates. The Community Preservation Corporation, which specializes in low-income housing, and partner, the Katan Group, fought long and hard to pave for the way for construction to begin. They anticipated breaking ground in late 2012 on several mixed-use towers set to rise at the 11-acre site along Williamsburg's industrial waterfront. The Commercial Observer notes that the developers had been struggling with the structural integrity of the 150-year-old landmarked sugar factory, reworking it into a habitable structure.
Asked to confirm that developers were now looking to unload the venture, a spokesman for the Community Preservation Corporation would not "confirm or deny" whether all or portions of the site will be offered for sale.
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