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Under the plan, the property, an old oyster-packing operation, would be redeveloped for both commercial and residential use.
As a first step, a small section of the trestle owned by a regional transportation authority would be redeveloped for $5.5 million.
He predicted the remaining industrial property on the far west side of Manhattan would be redeveloped and the exodus to New Jersey would continue.
The rest of the 40-acre site would be redeveloped for more stores as well as office and hotel space, he added.
Part of the deal was that one section of the estate, comprising 42 of its nearly 1,300 dwellings, road and car parking space and a little open land, would be redeveloped.
Suggestions included enlarging the district to its current size; incorporating the powerhouse building, which would be redeveloped, probably as offices; encouraging developers with incentives and loosened restrictions; and including a mix of uses like offices and stores.
Similar(40)
Mr. Di Tommaso said he also knew that the area around the project, an 18-block former industrial neighborhood, would eventually be redeveloped because the city wants to turn it into a residential and commercial area.
Dumfries Academy would also be redeveloped into a campus, including Loreburn Primary.
The city would prefer that the sites be redeveloped under long-term leases of up to 99 years, but it will consider proposals to buy the sites.
"This whole area I'd imagine is going to be redeveloped.
Mr. Hunter, who said he was in his 50's, said the Brooklyn Navy Yard would be an ideal area to be redeveloped for new low- and moderate income apartments.
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