Is Bushwick Development 'Still in its Infancy'?

The Eagle reports on a panel discussion held by the Brooklyn Chamber of Commerce’s Real Estate & Development committee at which a few real estate pros talked about how development in Bushwick still has a ways to go before the neighborhood is considered “a hot spot,” in the words of the Chamber’s Lori Raphael. While brokers and developers talked up the various conversions and new condos that have been built in the neighborhood over the last several years, David Maundrell of AptsandLofts.com said that it’s “still in its infancy” and “Bushwick today is what Williamsburg was 10 years ago.” A couple panelists said the neighborhood’s retail offerings need to evolve in order for the neighborhood to be more attractive. For example, a rep from the Hudson Companies, which developed the Knick condo, said the building has 15,000 square feet of retail space that the firm hopes to see taken by a “coffee shop and an organic market in a neighborhood that is still mostly bodegas and 99-cent stores.” Meanwhile, Jamie Wiseman, of developer Cayuga Capitol Management Inc., said the neighborhood still needs “bars, restaurants and all the services that people expect.”
It’s Still Early for Bushwick as Brooklyn’s Next ‘Hot Spot’ [Eagle]
Photo by Andrew Coulter Enright