"CIM is proposing to build 661 apartments, 165 of which would be deemed affordable. It would do this, in part, by increasing the height of two of the five buildings in the complex."
"The 25-30 Columbia Heights complex is composed of five buildings that originally made up the Squibb Plant, built by the Squibb pharmaceutical company as a factory."
"The red Watchtower sign came down and the 700,000-square-foot complex was renovated, but Panorama didn't take off - the Brooklyn office market never materialized as developers had hoped it would."
CIM Group aims to transform the 25-30 Columbia Heights complex into residential housing after the initial plan for an office complex, Panorama, failed. The buildings, previously owned by Jehovah's Witnesses, were purchased for $340 million in 2016. The new proposal includes 661 apartments, with 165 designated as affordable. To accommodate this, CIM plans to increase the height of two buildings. The complex has remained largely vacant since the Witnesses left, highlighting the need for housing in the Brooklyn Heights area.
Read at Curbed
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