It has been impossible not to notice the wealth of development happening in Downtown Brooklyn these past few years. However, the day-to-day grind of living and working in the neighborhood has a way of desensitizing local residents to the scale of the change.
When relatives recently came back to visit for the first time in several years, the scope of the change started to sink in.
Walking around the neighborhood, they kept pointing at the sky “What’s that building? What’s that building? What’s that building?”
After about a twenty minute stroll, one of them turned and stated “and I thought we had some sort of recession going on.”
And they’re not the only one’s noticing. A recent article in the Wall Street Journal stated “with 5,000 new condos and rental apartments added in the downtown Brooklyn area in the past three years, some developers and retailers think the Fulton Street Mall may be finally poised for a renaissance.”
National retailers Filene’s Basement/SYMS, H&M and Aéropostale have all signed leases on the mall in recent months. And more and more national chains are hunting for space.