Biotech Center a Tough Sell
LAURA KUSISTO
Eight years ago, New York state and city officials laid plans for a biotechnology facility in the Brooklyn Army Terminal on the banks of New York Harbor. Dubbed BioBAT, it would create more than 1,000 jobs and give the lucrative biotech industry a foothold in the city, they said.
In a nine-story portion of a former industrial building, the state and city invested tens of millions of dollars to create pristine white spaces on the first two floors with working elevators, new drywall, electricity and plumbing, and unopened boxes of air filters.
All that is missing are the tenants. On a recent tour the $53.5 million BioBAT space felt ghostly empty.
The project's troubles reflect the challenges of a high-risk development project led by two public organizations—SUNY Downstate Medical Center and the city Economic Development Corp.—that often had bitter disputes about how to manage the project, according to people involved.
http://online.wsj.com/articles/tech-center-in-brooklyn-seeking-tenants-1405387135