The team chosen to revive a razed Black neighborhood has yet to start constructing its first buildings because of the challenging real estate development market .
Why it matters: The first phase of the Brooklyn Village redevelopment was originally supposed to be finished by 2021 . But like most private-public partnerships happening in Mecklenburg County, it’s delayed.
The big picture: Descendants of Brooklyn, the once prominent Black neighborhood destroyed years ago, have waited decades for restitution — though many argue that the Brooklyn redevelopment doesn’t come close.
- The 17-acre construction project will create jobs for minority-owned businesses. Also, 10% and 12% of housing units are being set aside as affordable.
Driving the news: BK Partners — a partnership between New York-based The Peebles Corporation and Charlotte-based Conformity Corporation — wrote in a May letter to Mecklenburg County that it had decided not to commence vertical construction at this time, WFAE’s Steve Harrison first reported.