If you own a building on the prestigious National Register of Historic Places, 20 percent of the cost of rehabbing the structure can go to federal tax credits.
That’s why the Brooklyn Navy Yard and its tenants have applied for a historic designation for its buildings with New York state, so it can then go on to the federal level.
U.S. Senator Kirsten Gillibrand (D-N.Y.) recently announced her support for the designation. Once New York State approves it, the request goes to the National Park Service, for the final determination.
According to NY1, the Navy Yard is already at capacity and companies looking to get in are put on a waiting list. So continued development of the Navy Yard, which is part of the Brooklyn Tech Triangle initiative, is seen as a high priority.
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