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Dressing Up Fulton Mall With StyleApril 5, 2013
The transformation of Fulton Mall from a Downtown Brooklyn den of cheap cellphone outlets and fast-food joints into a more upscale shopping hub is set to take a significant step forward Thursday with a deal to open a Century 21 Department Store.
The popular discount retailer would provide a high-profile anchor for the City Point development, a mix of mostly retail and apartments that is one of the largest projects under way in Brooklyn. It would be the first new traditional department store to open in Downtown Brooklyn since the area slid into decline in the 1970s.
By landing Century 21, developers said they would be able to break ground this summer on the bulk of the City Point development—675,000 square feet of retail and commercial space and 690 new market-rate and “affordable” apartment units at Dekalb and Flatbush avenues.
The deal—set to be announced on Thursday—could also potentially accelerate the timeline on a later phase of the development, a 680-foot-tall residential tower that would be the tallest building in Brooklyn. The developers, Washington Square Partners and Acadia Realty Trust, plan to break ground on the tower by 2017.
“We would not have moved forward without an anchor. Century 21 was what we really needed to make this project a reality,” said Paul Travis, project executive and president of Washington Square Partners.