The Citi Development Bank has developed a $10.6 billion portfolio of land and infrastructure in Brooklyn, Queens and Brooklyn, which includes a new office complex for the city’s banking industry.
The CITB, a nonprofit government-backed investment company, says it aims to create an ecosystem for sustainable and innovation business development by supporting developers in a number of key areas, including finance, insurance, real estate, construction, energy and transportation.
It’s one of the most prominent and successful land deals in New York City.
In the Citi field, the bank will develop 1.2 million acres of land, including a portion of the Central Park Conservancy, the state’s largest natural park, which will be used for the bank’s office.
The bank is developing a $100 million, three-story building for the CITC, a large building designed to be the headquarters for the state-backed bank.
The project, known as the Brooklyn CIT, is set to be completed in 2021.
The site includes the site of a former department store, a warehouse that once housed an auto dealership, and a building once used as a gas station.
The Brooklyn Cit will include a rooftop rooftop bar and lounge, and the banks headquarters will be housed in a rooftop hotel.
The building is expected to house about 3,000 employees, the Brooklyn Bureau of Development has said.
The new development will include an outdoor plaza, a residential complex, a public plaza, parking for up to 100 cars, a pedestrian plaza, and an adjacent restaurant, according to a report by the city department of finance.
Citi says the new building will bring more than 20,000 new jobs to the borough and that it will also help spur investment in the nearby Brooklyn waterfront.
The report does not give an exact number of jobs that will be created, but says the Brooklyn City Council approved $200 million in incentives in 2018 to support the development of the building.