City Approves $20 Million for City Point

  CITY POINT / ALBEE SQUARE MALL TOWER     DOWNTOWN BROOKLYN REZONING & DEVELOPMENT  
  BROOKLYN COMMUNITY DISTRICT 02  
September 16, 2009
Brooklyn Papers

The Capital Resource Corporation approved $20 million in stimulus funds to restart development of the CityPoint project on Fulton Mall. The mixed-use space has long been a subject of controversy in the area. Many have expressed concerns about the true affordability of housing and the possible influx of national chain stores. Others see the development as a chance to create jobs and bring more revenue to the area. Under the current plan, construction will begin in 2010 with a second phase beginning in 2011.