Defining the future doesn’t happen in sudden bursts, and that’s especially the case in real estate. Change remains a fluid process, with innovation, investment, and even chance slowly shaping the way different visions come into focus.
This year’s most innovative companies in real estate and urban development advanced radically different ideas of how our cities should look and function, and remarkably, have made relatively rapid progress in realizing them.
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5. Two Trees Management
For creating a canonical example of waterfront redevelopment in American cities
When Domino Square opened in South Williamsburg, Brooklyn, in September, the last public piece of the 11-acre Domino Sugar Refinery had taken shape. It also showed the vision of developer Two Trees Management coming into focus, which reflected an era of urban adaptive reuse. The $2.5 billion transformation of the hulking industrial site into condos, creative office and community space exemplified the larger, two-decade effort to remake Brooklyn’s former industrial waterfront.
Two Trees’ strategy and vision to concentrate high-end housing and luxury in renovated towers and invest in significant public park space, bet that channeling the energy of the neighborhood, and encouraging riverfront exploration, public events, and parks, would pay off. Ever since the development started in 2017, its focus on sustainability, public spaces, and historical preservation has reinforced these values as crucial to any large-scale urban redevelopment. It’s become a hub for public events and performances.
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