500 Stagg Street

About the project

Evergreen was founded (as the East Williamsburg Valley Industrial Development Corporation) in 1982 by a group of local business owners working alongside St. Nick’s Alliance to revitalize East Williamsburg, New York City. Historically, Evergreen focused on addressing crime and sanitation issues in the area, in an effort to attract new business, support existing businesses, and grow job opportunities in the neighborhood. Today, Evergreen manages the Greenpoint/Williamsburg and North Brooklyn Industrial Business Zones and is responsible for providing area businesses with free assistance with tax credits, incentives, financing, real estate/relocation assistance, energy and environmental issues, workforce needs, and advocacy. The organization’s mission is to connect businesses with resources and opportunities to help create and maintain high quality jobs at all skill levels.

LISC provided a $6.72 million loan, enabling Evergreen to acquire and renovate a 10,000 square foot industrial building in North Brooklyn. The building will be occupied by up to three small tenants operating in the design and fabrication sector (e.g., wood/metal workers, fashion designers, furniture makers, film and TV prop makers). Evergreen will offer affordable rates that must be at least 20% below market value and is committed to creating one new full-time job per 1,000 square feet of space, at minimum. Development of the space will create and retain living wage jobs that are accessible to individuals with lower levels of educational attainment. 

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