Brooklyn Public Library
Strategic Real Estate Plan
U3A was engaged by the Brooklyn Public Library in 2007 to complete a strategic plan for its 58 branch libraries, which occupy a physical plant of nearly 750,000 square feet. U3A and its team, which included an architect and land use attorney, completed a comprehensive review of all of the Library’s facilities as to their physical condition, programmatic success, and potential for redevelopment or public/private partnership. Based on this assessment, U3A and its team identified, analyzed, and recommended potential options to meet the Library’s long-term needs. U3A was then hired back by the Library to prepare a financial feasibility analysis of the recommended option, including system-wide capital and operating cost impacts.
U3A is currently working with the Library to implement the preferred strategy. Most recently, U3A helped the Library to prepare a Request for Proposals jointly with the NYC Economic Development Corporation for the redevelopment of its Brooklyn Heights branch. After an extremely competitive selection process, The Hudson Companies was selected as developer. This transaction will yield a new, local branch of 21,000 square feet and $51 million of much-needed cash proceeds to be reinvested in the library system. U3A continues to serve as the Library’s on-call real estate advisor.