Red Hook Brownfield Opportunity Area Study
The Southwest Brooklyn Industrial Development Corporation received a Brownfield Opportunity Area (BOA) grant from the New York State’s Department of State to create a revitalization plan for an approximately 343-acre area of Red Hook, Brooklyn. The plan is designed to incite economic and industrial business growth in Red Hook by reactivating vacate and under-utilized sites. BJH Advisors, LLC was currently part of the team studying the opportunities and challenges in activating under-utilized brownfields in Red Hook. BJH Advisors conducted real estate market analysis for the industrial and commercial sectors in Red Hook and identified financing structures that will support the rehabilitation and/or development of industrial facilities in Red Hook, given the market conditions and challenges related to brownfield status and resiliency planning.
