Infrastructure

We financed infrastructure improvements throughout the Brooklyn Navy Yard as well as upgrades necessary for the construction and operation of the Barclays Center Arena.

As New York City grows and changes, so do the needs and strains on its infrastructure.  Roads, bridges, tunnels, power grids, and vast water and sewer lines all form the backbone of the city’s economy. Unfortunately, infrastructure in New York City has suffered from a systemic lack of investment over the past few decades.

Since 2009, we provided capital for a wide array of infrastructure improvements in Brooklyn. Much of our financing focused on the redevelopment of the Brooklyn Navy Yard, New York City’s largest industrial park and the home to approximately 550 businesses employing more than 11,000 people. Capital for a series of infrastructure upgrades helped transform the Navy Yard into a nationally acclaimed model of modern, urban industrial development. Infrastructure work included new roads, sidewalks, parking, pile foundations, water and sewer lines, and upgrades to the electrical distribution system.

We also financed infrastructure work surrounding the Barclays Center Arena in Brooklyn, the first new sports and entertainment arena built in New York City in over 40 years. Our funding allowed for the demolition and reconstruction of the Carlton Avenue Bridge, the construction of an on-grade parking facility, and the excavation, removal, and rerouting of water and sewer lines. Capital was also used to construct a 30,000 square foot outdoor public plaza in front of the arena as well as a new subway station entrance that serves as the main entry point to the arena from the Atlantic Terminal transportation complex.