Brooklyn Village - Redevelopment Phase I Property Sale
On Friday, July 28, the County and BKV Phase I Development, LLC completed the sale of Brooklyn Village South, which is Phase I of the Brooklyn Village Redevelopment Project between the County and BK Partners, LLC. Phase I (+/- 5.7 acres) is located at the intersection of E. Brooklyn Village Avenue and S. McDowell Street and consists of the former Walton Plaza building and the adjoining parking lot. Later phases will be located at the site of the former Board of Education building and Marshall Park. The multi-phase Brooklyn Village Redevelopment will consist of multi-family housing (both market and affordable), office, hotel, retail and park use.
With the closing of Phase I property for the redevelopment project, BK Partners will commence its first stage of horizontal improvements work, including demolition of the Walton Plaza building and installation of horizontal infrastructure for future vertical components. Construction of the first stage of horizontal improvements is expected to begin Fall, 2023.
The County was compensated $10,300,000 for the Phase I property.