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Highrises > Proposed Highrises
NEW YORK | Domino Sugar Plant | 172m | 565ft | 53 fl | 170m | 560ft | 51 fl | Demo

Jed Walentas breaks ground on Domino Sugar site, finally

A Brooklyn developer will announce Monday that construction workers have sunk a shovel into the ground on the Williamsburg waterfront for the first of five buildings destined to open at the site of the Domino Sugar refinery, dormant since 2004.
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rendering:

 

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Discussion Starter · #19 · (Edited)
Building A - 260 Kent Avenue | 133m/435ft | 42 fl | Offices + 330 units (60 affordable)

financing news: https://therealdeal.com/2018/01/23/...ium=popular_widget&utm_campaign=posts_popular

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The total development cost is pegged at $309 million, and Two Trees would put in $134 million in equity, according to the developer’s application.

The financing Two Trees is seeking from HFA will be more expensive than the kind the agency’s traditionally provided after it made a quiet change to its policies last year. The state agency stopped providing tax-exempt bonds for so-called 80/20 projects, instead shifting those resources to developments that are 100 percent affordable, as TRD originally reported.

The taxable bonds HFA would provide are benchmarked to LIBOR (the London Interbank Offered Rate) as opposed to the Securities Industry and Financial Markets Association (SIFMA) index that tax-exempt bonds are pegged to.
FAA submission: https://oeaaa.faa.gov/oeaaa/external/searchAction.jsp?action=displayOECase&oeCaseID=352931440&row=41

rendering: https://ny.curbed.com/2017/4/27/15451682/williamsburg-domino-sugar-megaproject-cookfox-building

 
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