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NYCEDC and Brooklyn Borough President Seek Redevelopment of Former Loew's Kings Theater


New York City Economic Development Corporation (NYCEDC), in cooperation with Brooklyn Borough President Marty Markowitz, issued a Request for Expressions of Interest (RFEI) for the rehabilitation of the former Loew’s Kings Theater at 1025-1035 Flatbush Avenue. The theater contains approximately 63,000 square feet of space, including about 5,000 square feet of retail space, on a 53,900-square-foot-parcel. RFEI responses may include plans for additional City-owned parcels, containing about 77,200 square feet, adjacent to the theater. Redevelopment plans must be economically feasible, rehabilitate and reuse the theater building, and retain certain elements of the theater’s original architectural features. Public funds may be made available for initial capital expenditures.

“The unique character of the former Loew’s Kings Theater combined with its location in the middle of the Flatbush Avenue retail strip make this an especially exciting redevelopment project,” said NYCEDC Interim President Joshua J. Sirefman. “Our goal is to receive responses that are forward-thinking, but with a genuine reverence for the theater’s glorious past. I want to thank Marty Markowitz for his enthusiasm and support of this important project.”

The RFEI envisions a wide array of possible uses, such as a commercial theater, a not-for-profit cultural institution, a gallery and auction house, a television and motion picture production facility, residential units, a hotel, restaurants, a community facility and retail establishments. Development opportunities for the adjacent City-owned parcels may include decking over the parcels or transfer of surplus development rights from the theater to the parcels, or the parcels to the theater. Respondents may also plan redevelopment of the adjacent City-owned parcels, provided their submissions recognize and adequately address certain existing agreements.

“Restoring the historic Loew’s Kings Theater represents an opportunity to create a world-class cultural venue for current and future Brooklynites by bringing back a little piece of yesterday,” said Borough President Markowitz. “The return of the Kings will confirm Brooklyn’s status as the creative capital of New York City, and when this people’s palace is back in the heart of the borough in all its former splendor, it will be a great day for both Brooklynites who have walked her aisles and those who have yet to discover her majesty.”

The Loew’s Kings Theater opened in 1929 as Loew’s flagship theater. Designed in the French Renaissance style, the theater’s architecture was heavily influenced by the Palace of Versailles and Paris Opera House. The theater features high curved ceilings, ornate plaster walls, wood paneling, pink marble, and a glazed terra-cotta ornamental façade—all in keeping with classic movie palace styling. The stage is approximately 70 feet wide by 30 feet deep and has a fly gallery about 80 feet high and a proscenium opening 60 feet wide by 50 feet high.

NYCEDC will use a variety of criteria to evaluate the responses, such as: return to the City; financial feasibility; development team’s qualifications; development plan’s relationship to surrounding community; design; and respondent’s satisfaction of development guidelines. NYCEDC also supports high performance, green building and sustainable design.

The Flatbush Avenue retail corridor is a major shopping area with many businesses selling clothing, appliances, furniture, food and other goods. The theater is located near Sears, Staples, Old Navy, and a Super Stop and Shop serving the adjacent residential neighborhoods. It is within walking distance of the B and Q trains and numerous bus lines.

There will be an information session and site tour on Tuesday, October 24, 2006 at 10 a.m. at the theater, 1025-1035 Flatbush Avenue, Brooklyn. Please RSVP by calling Anifia Binns at (212) 618-5721 or e-mail abinns@nycedc.com, on or before October 17, 2006. Interested parties are encouraged to attend the information session and site tour. A copy of the RFEI can be obtained by calling (212) 618-5721, or may be downloaded at www.nycedc.com/rfp. Responses are due no later than 4 p.m. on Wednesday, December 6, 2006. NYCEDC may select a developer or development team from responses to this RFEI, or may issue a subsequent Request for Proposals (RFP). The RFP may be issued only to developers, or a selection of developers, that responded to the RFEI, so all interested parties are urged to respond to this RFEI.

About NYCEDC
New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.

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Andrew Brent/Janel Patterson (212) 312-3523