Brooklyn Navy Yard to revamp long-dormant power plant

Real Estate Weekly, Dec 4, 1991

Brooklyn Navy Yard to revamp long-dormant power plant

The Brooklyn Navy Yard Development Corporation (BNYDC) announced that an agreement has been reached which will lead to the reuse of the former military base's long-dormant power plant. The agreement, between York Research Inc., which leases the power plant from the Navy Yard and will operate it once it is refurbished, and Consolidated Edison Co., is for the sale of cogenerated energy and steam to be generated at the plant.

BNYDC Chairman Richard Lukins said, "When the Navy Yard was first constructed, it was designed as a self-contained base, able to support the activity for which the facility was built. The power plant, which once burned coal, is being converted to a gas-fired plant. This is another example of a resource that the Navy Yard provides to bolster the area's economy."

York Research executed three power sale agreements with Consolidated Edison Company for a total of 170 megawatts of future electric generating capacity. In addition to selling electricity and steam to Con Edison, the power plant will provide a reliable source of low cost energy to Navy Yard tenants. In addition, the plant will be marketed to nearby which employ a total of 71 people, are as follows: * ESP International, a start-up minority financial and consulting company that employs three people and will occupy 1,300 square feet of space. * Koh San, a woman-owned start-up furniture manufacturer, employs two people and will occupy 2,600 square-feet of space * Pyramid International Construction Co., Inc., a two-person construction company, will lease 1,150 square feet of space to house its new operation * Maxim Ralph Photography, a minority-owned photography company that employs two people, will occupy 950 square feet of space * P.C.M. Construction, a construction company that currently occupies one acre of land, will expand to an adjacent one acre site. The company currently employs 60 people * Sculptural Engineering, an existing metal fabricator which currently occupies 880 square feet of space, will expand to an additional 420 square feet of space. The company currently employs two people.