Fast Company, October 22, 2019 : This New Development Will Ask Buyers to Invest in a Fund to Give Back to the Community
Alloy Development’s new building in Dumbo will ask condo owners to make a donation to the Brooklyn Community Foundation and help make decisions about where in the community the money should go.
While expensive development throughout Brooklyn has led to displacement of Black and Hispanic residents over the past couple of decades, according to a report earlier this year from the National Community Reinvestment Coalition, Dumbo itself was mostly an industrial neighborhood, where old warehouses and factories were transformed into pricey lofts.
