.. DUMBO IMPROVEMENT DISTRICT ..

The Reinvestment of the Private Sector

It was not until after the arrival of artists in the late 70s and early 80s that the neighborhood began to change for the better. Developers began to convert old warehouses into residential lofts and commercial spaces. As DUMBO began attracting more residents, small businesses began opening in the neighborhood. In addition, artists and artisans continued to flock to the area because they viewed DUMBO as an ideal working environment; its large warehouses could provide them with remarkable studios and its scenic backdrops spur their creativity.

The large loft spaces in the former manufacturing and warehousing buildings, at affordable prices and with incredible views and light, began to attract artists in the early 1970s. Renovations continued throughout the 70s and 80s as artists and neighborhood developers created live-work spaces in the vacant buildings.

In 1981, David Walentas of Two Trees Management purchased the former Gair buildings, a 12-block area of 2 million square feet from Harry Helmsley. The City was at first reluctant to rezone DUMBO for residential usage because officials wanted to preserve manufacturing jobs in Brooklyn, but in 1998 when the last major manufacturer left the Gair buildings, the residential rezoning was enacted. That year, 1 Main Street became the first residential development in DUMBO. Over the course of the last decade, hundreds of units have been completed, and the neighborhood’s residential population soared.

• Overview • A Transportation & Manufacturing Center • The Downturn • The Reinvestment of the Private Sector • DUMBO Today

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