Portions of the 11-acre factory, which dates back to the 19th century, will be demolished to make room for several luxury residential towers and work space for tech companies. The $1.5 billion project has been met with objections in the past: A petition circulated, and rallies were organized in attempts to preserve the historic architecture. Now that a final deal has been struck between the developer and City Hall, the 55-story high-rise buildings will drastically change the landscape of Williamsburg's waterfront.
However, it's not all bad news for the 'hood: The de Blasio administration reported that 700 out of the 2,300 units will be reserved for low and moderate-income residents. This is a reassuring sign for many, as there will be more of these big-scale developments to come. One thing we know for sure: We're going for a walk this weekend along the East River to get a good view of waterfront before the skyscrapers creep up on us. (Complex)