"For a while after a fire devastated a historic Red Hook warehouse, the Brooklyn Waterfront Artists Coalition - one of the building's oldest tenants - hoped they would someday return to their space. They, along with dozens of artists and small businesses, thought their displacement would be temporary. But in November, they got bad news. The damage was worse than had been anticipated, and the building will likely be uninhabitable for years. BWAC's lease was terminated, as were many others."
"The building's owner, The O'Connell Organization - now headed by Gregory O'Connell Jr. after the death of his father - had charged most tenants below market-rate rent in order to keep artists in Red Hook, said President Alicia Degener. But keeping costs low meant forgoing fire insurance, leaving O'Connell solely responsible for the costs of rebuilding. When the warehouse is ready again, they warned that the rents will be much higher. BWAC won't be able to afford its old space."
A fire devastated a historic Red Hook warehouse that housed the Brooklyn Waterfront Artists Coalition for 35 years. The organization and dozens of other tenants initially expected displacement to be temporary, but damage proved far worse and the building will likely remain uninhabitable for years. The O'Connell Organization had charged most tenants below market-rate rent to keep artists in Red Hook but had forgone fire insurance, making the owner solely responsible for rebuilding costs. Rebuilding plans will result in much higher rents, rendering BWAC unable to return to its old space. BWAC is seeking a new home and launching fundraisers, including a Holiday Bash auction.
Read at Brooklyn Paper
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