DOWNTOWN BROOKLYN — After five years of serving as the head of the Downtown Brooklyn Partnership, Tucker Reed is stepping down as president.
Reed, who joined the business improvement district in 2011, will step down from his post on Aug. 5, the organization said.
During his tenure, Reed helped boost Downtown Brooklyn’s commercial real estate market and economic development, leaving the area with a historically low vacancy rate, as less than 2 percent of the neighborhood’s commercial buildings are unoccupied, according to the partnership.
He’s also credited with exponentially growing the area’s residential real estate market.
More than 2,200 apartments have been built, almost 6,000 are under construction and another 7,000 are being planned for Downtown Brooklyn, for a total value of more than $8 billion, according to the New York Times.
Reed has overseen more than two dozen office and retail projects being planned for the neighborhood, the Times added, as well as parks projects, including the Brooklyn Strand, which would connect public spaces from Borough Hall to the waterfront to make the neighborhood more walkable.
Major economic initiatives during his tenure have included the creation of the Brooklyn Tech Triangle, a coalition of tech companies between in Downtown Brooklyn, DUMBO and the Brooklyn Navy Yard; the Brooklyn Education Innovation Network, an initiative that connects students at local colleges with internships and educational programs within Brooklyn; and the growth of the Brooklyn Cultural District, the partnership said.
But Reed's chief accomplishment has been building up the partnership’s diverse staff, he said.
"If we have made any progress during the time that the Boards of Directors entrusted me with leading DBP, it is not because of my efforts alone, but is instead due to the collective energy of our staff," he said in a statement.
"That is my proudest accomplishment and if I leave any legacy, I hope people will remember that we built a fine organization, full of extraordinary people, whose commitment to the betterment of Brooklyn is their higher calling."
Reed is still deciding what his next move will be, but he’s leaning towards real estate or a technology startup, the Times reported.
The Downtown Brooklyn Partnership is now looking for candidates for president. The full job description and application can be found here.
