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Brooklyn, NY (2012)

1000 Dean Street

Transformation of three vacant structures creates a hub for small,creative businesses and brings significant economic activity to theCrown Heights neighborhood of Brooklyn, NY.

Investment

  • NMTC Amount: $25,700,000
  • Total Project Cost: $26,976,121

IMPACT

  • 233 FTE jobs
  • 187 construction jobs
  • 60 patients served
  • Tenant businesses provided with flexible lease rates.

Investor

Project Description

The 1000 Dean Street project consists of the conversion of three contiguous vacant buildings to provide approximately 100 local small businesses with affordable office space, including a variety of tenant types such as start-up companies, designers, and artists, and a food hall and events space that will showcase local food purveyors, artists, and entertainers.

The three rehabilitated and repurposed structures include:

  1. A four-story building, originally constructed as the service building for the nearby Studebaker showroom, provides affordable workspace for creative professionals.
  2. A single-story structure with a raised loading dock area houses event space to be used by local nonprofits, community groups, schools, and residents.
  3. A single-story, garage-like structure repurposed as a food hall. 1000 Dean Street is a center for synergistic, creative businesses that has a significant trickle-down effect on the local community not only in terms of economics but the social vibrancy and other quality-of-life measures.

Community Impacts

  • Create 175 construction jobs and 425 jobs at tenant businesses.
  • Provide goods and services through a diversity of small-business tenants to low-income residents, including education, healthy foods, arts, and culture, as well as technology, architecture, and design.
  • Provide tenant businesses with flexible lease rates.
  • Attract minority- and women-owned subcontractors and tenants.
  • Create environmentally sustainable outcomes by incorporating smart growth principles into the transit-oriented redevelopment and remediating environmental contamination.
  • Serve as a catalyst to invigorate business activity in Crown Heights, a neighborhood that has historically lacked private and public investment, and support nonprofit community development groups

MAP

Address: 1000 DEAN STREET, Brooklyn, NY 11238

Census Tract: 36047030500

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