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Developers plan $100 million investment in Industry City, home of Nets training facility

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NetsDaily

In a profile of Industry City, home of the Nets new training facility, the Daily News quotes the CEO of the Brooklyn development saying the company will invest $100 million in the first phase of a plan to modernize the 100-year old, 16-building site. The Nets $50 million training facility, on the top floor of Building 19 in the complex, is expected to be anchor of Industry City. NetsDaily first reported the plan in October.

Reuven Blau writes that Industry City, on the Brooklyn waterfront, has already signed up 120 businesses, many small industrial companies and others local artist studios. But a lot of the infrastructure around the site needs big improvements. Only nine of the 144 elevators at the sprawling complex can be operated by simply pushing a button, writes Blau. The others must be manually opened and closed with a rope tether.

The developer, Jamestown Properties, hopes to replicate Manhattan's Meatpacking District or Brooklyn's DUMBO and will lobby the city for a new ferry stop and improvements to the area's sewers and roads. "We think that with some investment, we can create some good-paying jobs," Kimball said.

The Nets have yet to formally announce --or officially confirm-- their plan to move their training facility from the PNY Center in East Rutherford, NJ,  According to Nets insiders, the team hopes to be in their new digs by 2016. In addition, the New York Times reports the team plans a team store on the bottom floor of Building 19.