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Tuesday July 29, 2014

Space For #Startups is Scarce in #Brooklyn

300px-Brooklyn_Bridge_Postdlf10North Brooklyn is a popular site for startups. But neighborhoods like Williamsburg and Greenpoint don’t have a lot of space that meets their needs. Assemblyman Joseph R. Lentol (D-Brooklyn) is rallying support for a bill that would establish a creative economic zone in Brooklyn that would offer incentives for mixed-use developments and a mentorship program for entrepreneurs.

Much of Williamsburg and Greenpoint are zoned for mixed commercial and residential use, but developers favor building for residential use. Jeremiah Kane, an advisor to Rubenstein Partners, said that many owners of old factories and warehouses won’t sell because they are waiting for the area to be rezoned for residential use.

The New York Times