One year ago, the news broke that Jamestown, Belvedere Capital and Angelo Gordon have announced plans to inject $ 1 billion to renovate and redevelop parts of the 16-building, six-million-square-foot industrial complex, dubbed City of industry, located west of the Gowanus Highway, in Greenwood. Crain is reporting now the developers are abandoning plans to build a 150,000-square-foot student dormitory on the 32-acre site. The proposed rezoning of the complex still includes the construction of a significant commercial space and two hotel buildings. Ongoing renovations include new windows, elevators and interiors, and the complex currently houses manufacturing uses and offices of all kinds. The developers plan to start the city’s Urban Land Use Review (ULURP) process before 2017.
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