$400m to be spent on Brooklyn Navy Yard project.
An agreement has been reached between the nonprofit Brooklyn Navy Yard Development Corporation and Douglas Steiner. They'll turn an abandoned 19th century naval hospital complex into a $400 million film and technology hub. Steiner owns Steiner Studios in another part of the Navy Yard. It's the largest film and television complex outside Hollywood.
The New York Times (http://nyti.ms/S1KHEu ) says that under the agreement, the two sites would be connected to create a 50-acre media campus. It would take 12 years to complete. The agreement is contingent on city, state and federal financing. The Navy Yard is a sprawling industrial park that houses hundreds of businesses.