BEDC ANNOUNCES LAUNCH OF NOSTRAND AVENUE PROJECT WEB SITE

BROOKLYN, NY—November 14, 2005—Brooklyn Economic Development Corporation (BEDC) has created a new Web site for Nostrand Avenue, a commercial corridor in the East Flatbush section of Brooklyn, which highlights real estate opportunities, provides façade improvement guidelines for retailers and property owners, and promotes products and services available from local merchants.

“BEDC created the Web site, www.nostrandave.org as part of the Nostrand Avenue Commercial Revitalization Initiative, which BEDC launched last spring in collaboration with the Nostrand Avenue Merchants Association to help businesses attract shoppers and increase revenues,” said James Sanford, director of Community Development at BEDC and project manager for the Nostrand Avenue Revitalization Initiative. “The Web site is designed to inform businesses and property owners of the services available to them through BEDC and other organizations, inform residents and employees of the products and services local businesses offer, and provide both groups with updates on beautification efforts.”

Mr. Sanford said the potential for businesses on Nostrand Avenue to expand and thrive is great because the commercial strip is a half a block from the SUNY Downstate Biotech Park, which is made up of the new Biotechnology Incubator and two proposed bio-tech buildings in a two-block area, and one block from SUNY Downstate Medical Center and Kings County Hospital, which is undergoing a major redevelopment. Together, the facilities employ more than 6,000 people who are potential customers for businesses along Nostrand Avenue. New residential development also is planned for the area where 19,000 residents currently live in an eight-block area and more than 50,000 residents live within a half mile radius. In addition, a new school has opened and active churches are located nearby.

The Nostrand Avenue Project Web Site contains the following:

Storefront Improvements

The Nostrand Avenue Project Web Site features information on the Storefront Improvement Program that BEDC is coordinating on Nostrand Avenue between Fenimore Street and Lenox Road. More than 23 businesses have submitted applications for the program, which is designed to help merchants and property owners improve their storefronts and make the shopping strip more attractive and welcoming to consumers.

Funded by the Department of Small Business Services, merchants and property owners can apply for up to $5,000 in matching funds per storefront, which means local businesses can invest $1 for every $3 provided by the City. BEDC is working with local businesses to develop an approved set of enhancements including new see-through security gates, awnings, signage, painting, and other façade improvements. All proposed work must be pre-approved and go through an application process.

Business Opportunities on Nostrand Avenue

The Nostrand Avenue Project Web Site details BEDC’s real estate services and its staff’s availability to help local property owners recruit tenants for commercial storefronts. Based on focus groups and shopper surveys conducted in recent months, BEDC has identified several kinds of stores desired by local consumers: café, bagel store, sit down lunch establishment, a children’s toy and clothing store, florist, and bookstore. The site also provides local demographic statistics, links to Web sites for the Biotech Park, King County Hospital’s redevelopment plans, and other local resources, and highlights opportunities for business development.

Information for Consumers

As a service to local consumers, the Nostrand Avenue Project Web Site features a directory listing addresses and phone numbers for restaurants, grocery stores and markets, cleaners, pharmacies and health care sites, legal and real estate services, beauty salons and barber shops, day care centers, and other businesses on Nostrand Avenue.

In addition, the Web site gives shoppers the opportunity to complete a short survey online about their spending habits on the commercial strip, what services they use, and the types of stores or businesses they would like to see on Nostrand Avenue. The information will be compiled by BEDC and shared with merchants to ensure that they are meeting the needs of local residents and employees.

Beautification News

The Nostrand Avenue Project Web Site keeps local residents and employees informed of the beautification projects now taking place along the commercial strip. Through capital funding provided by Council Member Una Clarke and now her successor, Yvette Clarke, the City is making major streetscape improvements along Nostrand Avenue from Empire Boulevard to Linden Boulevard. Trees were planted last summer, new, decorative street lights have replaced generic street lights, and new decorative medallions that illustrate different flowers of the Caribbean will soon be placed along with the Nostrand Avenue Merchants Association and affixed to the street lights.

More information about the commercial revitalization efforts on Nostrand Avenue is available from Mr. Sanford at BEDC, at 718-522-4600, ext. 30, or by consulting the Web site at www.nostrandave.org

BEDC, a private, nonprofit organization, was established in 1979 to stimulate Brooklyn's economy and create job opportunities for the borough and its residents. BEDC has evolved into a multi-service, business-consulting agency, serving more than 1,000 clients annually and offering comprehensive economic development services. More information is available at www.bedc.org.