"Somewhere in the pipeline, there are about 14,000 residential units and a million and a half square feet of office space," says Joe Chan, president of the Downtown Brooklyn Partnership, a non-profit that's helping coordinate everything to come. Chan says roughly $9 billion in private money, plus $300 million in city funds, will be invested.
Plans call for major hotels including a Hilton; a huge Brooklyn Academy of Music expansion; a $15 million Flatbush Avenue facelift; and the Albee Square complex, with 475,000 square feet of retail space."
"The Fulton Mall and MetroTech aren't exactly considered residential areas. Yet, Belltel Lofts, a former telephone-company building on Willoughby Street, has already sold about 100 of its 250 lofts and has recently seen its first buyers move in."
BROOKLYN GETS READY FOR ITS 14,000-UNIT, $9 BILLION MAKEOVER