Schaefer Brewery Redevelopment, Brooklyn, NY
Once a heavily industrialized site that included a recently vacated winery, lumberyard, and decommissioned power plant, in addition to the closed Schaefer Brewery Company, Schaefer Landing now offers open space, on-site parking, and a waterfront esplanade with its residential towers. Prior to redevelopment, the NYC Department of Housing Preservation and Development asked AKRF to prepare alternatives for the site and the surrounding neighborhood in Williamsburg, Brooklyn. AKRF’s economics team analyzed area-wide socioeconomic characteristics, prepared market and feasibility studies, and created several development scenarios. After identifying serious environmental concerns and bulkhead erosion problems that would limit the development potential of several sites, AKRF recommended applying the City’s special waterfront zoning, which had never been used on the Brooklyn waterfront. This would allow development of residential towers that could take advantage of spectacular views of the Manhattan skyline, meet the growing demand for market-rate housing in the neighborhood, and provide an income stream substantial enough to deal with costly site development issues.

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