First investor pulls back from Gowanus project

The builder Toll Brothers Inc will not pursue a project to build 450 housing units along the Gowanus Canal. David von Spreckelsen, a Toll senior vice president said to the Wall Street Journal: “We’re extremely disappointed in the EPA’s decision. It’s going to have a big impact on the properties along the canal. It’s unlikely you are going to see development there for many, many, many, many years.”