Sugar Factory Death Knell

The Revere sugar facory--R.I.P.? We just got word that the Revere sugar factory, which sits in between the Ikea site and the just-open-already! Fairway grocery store in Red Hook, barely dodged the Industrial Business Zone bullet today. Thor Equities, which bought the site last year for $40 million, wants to develop the property into residential and commercial buildings. But standing in its way was the likely I.B.Z. designation that the area was due to receive. Update: We've got the final Southwest Brooklyn I.B.Z. map after the jump. Under the I.B.Z. designation, the Bloomberg administration: --guarantees "not to support the rezoning of industrial property for residential use"; --will strengthen zoning enforcement through increased monitoring and inspections of illegally converted buildings; --impose greater fines for illegal conversions; --give a one-time $1,000-per-worker tax credit to business that move to a I.B.Z. But the sugar factory is now merely in the I.B.Z. ombudsman area (shown in pink on map), just out of the I.B.Z. proper, which will allow Thor Equities much more latitude in its future developments.
The newly amended Southwest Brooklyn I.B.Z. map. From the "New York City Industrial Policy: Protecting and Growing New York City's Industrial Job Base" white paper: