BAM Cultural District Flowering to Transform Brooklyn

new-development-BAM-area-031513The massive redevelopment under way in the BAM Cultural District in Fort Greene is drawing comparisons to Lincoln Center in the ’90s, reports The Real Deal. It’s all part of rapid change in downtown and nearby areas, including Barclays Center, that will transform the borough in the next few years. Since a rezoning in 2004, New York City has spent more than $100 million in the BAM Cultural District, the story said. “People will look back at this and say it’s a truly remarkable renaissance,” said developer Douglas Steiner, who is building a 720-unit rental tower at Flatbush Avenue and Schermerhorn Street known as the Hub. New residential buildings and businesses began to spring up following the 2004 rezoning. Demand for housing is outpacing availability, and rents have increased, reaching an average of $3,254 for a one-bedroom in January, according to real estate firm MNS. Retail is also in demand, with commercial rents doubling or tripling since 2004. Meanwhile, the City is encouraging cultural spaces and programming. Within the next four years, the area will boast about 40 arts and cultural organizations, the story said. “We like to think of this as a cultural district that caters to everyone — not just the New York elite,” said Tucker Reed, president of the nonprofit Downtown Brooklyn Partnership.
The BAM Cultural District: The Next Lincoln Center? [TRD]

8 Comment

  • So what’s BAM planning for the retail space in the Forte that it owns? It’s a shame that they’re only using that place for storage now.

  • Demand for housing is outpacing availability, and rents have increased, reaching an average of $3,254 for a one-bedroom in January, according to real estate firm MNS.

    3254.00, are they freaking kidding me?

    that is a mortgage payment, rent, you gotta be kidding for a one bedroom, which we all know is really the 2 room typical special…..
    bedroom / kitchen-living-dining combo….

    blech !!

  • How does anyone compare this with Lincoln Center????
    Apparently, Tucker Reed figures that anyone who has the slightest interest in ballet, symphony, recitals, and such is one of the”elite.” Would there be something horrible about BAM actually presenting a regular diet of classical music? I guess Jay-Z is what passes for culture these days.

  • I live right around the corner from here. It’s a shame. The high rents are driving us out. If only we were poor enough to qualify for one of these “affordable” units at 66 Rockwell. It’s going to be a much different neighborhood if developers continue catering only to people that can afford over $3.2K for a 1ish bedroom or make under $24K as a family to qualify for the “affordable” units and no one in between. And developers still continue to build rentals until “housing values go up” to a price where condos make sense as a product. Sigh.

  • No one comparing the area to Lincoln Center, merely pointing out that we have six live theaters in place or coming (BAM three, BRIC, Roulette, Theater for New Audience). The Real Deal reporter called me for another story and I told him about this. And Tucker noting that our theater district runs from New Music (Roulette) to Royal Shakespeare (Harvey) to Mic Check (BAM) to what will be sophisticated and open programming at BRIC.
    Jeez lighten up!

  • really, Chris???
    “The massive redevelopment under way in the BAM Cultural District in Fort Greene is drawing comparisons to Lincoln Center in the ’90s, reports The Real Deal. ”
    sort of seems like a comparison to me…

  • Chris, don’t bother. Just the typical unhappy in life trolls who will never st a positive word about anyone or anything. I’m quite proud of bam and am looking forward to seeing it grow. For those who want to pick a fight over comparing it to Lincoln center… Get a hobby.