Skip to main content

FCR announces demolitions; Ward Bakery not yet on list

Forest City Ratner yesterday announced its plans to demolish a dozen buildings within the Atlantic Yards project footprint. Asbestos abatement will commence next week and take at least two to three weeks before the structures are razed.

(The permits have been filed but not yet approved. See CB6 list and CB8 list.)

Notably, despite having filed a permit for demolition of the Ward Bakery on Pacific Street, which preservationists seek to protect rather than see an interim surface parking lot in its stead, the developer did not announce that demolition. Rather, demolitions of four other properties, at the corners of Vanderbilt Avenue and Pacific Street and Vanderbilt Avenue and Dean Street, are scheduled first on the block bounced by Vanderbilt and Carlton avenues, and Pacific and Dean streets.

Those properties, as the map shows, partially surround a building with renters who are part of an eminent domain lawsuit against the project.

However, that doesn't mean that Forest City Ratner intends to spare the Ward Bakery, the largest property marked in red on the map; this is just the first phase and that would be a complicated building to take down.
(Map by NoLandGrab, updated 3/8/07. Click to enlarge)

Confusing press release

Still, the press release, which emphasized the role of minority-owned contractors, was short on details and seemed to confuse at least one press outlet.

Under the headline 12 STRUCTURES TO BE RAZED AS PART OF ATLANTIC YARDS PREP WORK, it stated:
Forest City Ratner Companies (FCRC) today announced that phase one of Atlantic Yards construction will proceed next week with the demolition of 12 buildings owned by FCRC. Demolition will continue at 179 Flatbush Avenue, and abatement of an additional 12 buildings will begin as part of the preparatory work to demolish those buildings.

The New York Post, in an article headlined Ratner Readies Wrecking Ball, took that literally, stating:
Developer Bruce Ratner plans to demolish 12 buildings within a 22-acre footprint next week as he revs up efforts to begin building his $4 billion Atlantic Yards project in Brooklyn.
The developer - who last week began prep work for the Frank Gehry-designed development featuring an NBA arena and 16 skyscrapers - announced yesterday that he will also begin asbestos removal and abatement work on 12 other vacant buildings he controls in the project zone.


But the "additional 12 buildings," according to the press release, appear to be those additional to 179 Flatbush Avenue.

Demolition list

Block 1119
Lot 1 622 Atlantic Avenue (old U-Haul site, not noted in red on above map)

Block 1127
Lot 10 193 Flatbush Ave
Lot 11 191 Flatbush Ave
Lot 12 189 Flatbush Ave
Lot 18 618 Pacific Street
Lot 22 626 Pacific Street
Lot 30 644 Pacific Street
Lot 54 465 Dean Street

Block 1129
Lot 45 814 Pacific Street
Lot 46 818 Pacific Street
Lot 50 542 Vanderbilt Avenue
Lot 54 546 Vanderbilt Avenue

Comments

Popular posts from this blog

Forest City acknowledges unspecified delays in Pacific Park, cites $300 million "impairment" in project value; what about affordable housing pledge?

Updated Monday Nov. 7 am: Note follow-up coverage of stock price drop and investor conference call and pending questions.

Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.

The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.

While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…

Revising official figures, new report reveals Nets averaged just 11,622 home fans last season, Islanders drew 11,200 (and have option to leave in 2018)

The Brooklyn Nets drew an average of only 11,622 fans per home game in their most recent (and lousy) season, more than 23% below the announced official attendance figure, and little more than 65% of the Barclays Center's capacity.

The New York Islanders also drew some 19.4% below announced attendance, or 11,200 fans per home game.

The surprising numbers were disclosed in a consultant's report attached to the Preliminary Official Statement for the refinancing of some $462 million in tax-exempt bonds for the Barclays Center (plus another $20 million in taxable bonds). The refinancing should lower costs to Mikhail Prokhorov, owner of the arena operating company, by and average of $3.4 million a year through 2044 in paying off arena construction.

According to official figures, the Brooklyn Nets attendance averaged 17,187 in the debut season, 2012-13, 17,251 in 2013-14, 17,037 in 2014-15, and 15,125 in the most recent season, 2015-16. For hoops, the arena holds 17,732.

But official…

Is Barclays Center dumping the Islanders, or are they renegotiating? Evidence varies (bond doc, cash receipts); NHL attendance biggest variable

The Internet has been abuzz since Bloomberg's Scott Soshnick reported 1/30/17, using an overly conclusory headline, that Brooklyn’s Barclays Center Is Dumping the Islanders.

That would end an unusual arrangement in which the arena agrees to pay the team a fixed sum (minus certain expenses), in exchange for keeping tickets, suite, and sponsorship revenue.

The arena would earn more without the hockey team, according to Bloomberg, which cited “a financial projection shared with potential investors showed the Islanders won’t contribute any revenue after the 2018-19 season--a clear signal that the team won’t play there, the people said."

That "signal," however, is hardly definitive, as are the media leaks about a prospective new arena in Queens, as shown in the screenshot below from Newsday. Both sides are surely pushing for advantage, if not bluffing.

Consider: the arena and the Islanders can't even formally begin their opt-out talks until after this season. The disc…

Skanska says it "expected to assemble a properly designed modular building, not engage in an iterative R&D experiment"

On 12/10/16, I noted that FastCo.Design's Prefab's Moment of Reckoning article dialed back the gush on the 461 Dean modular tower compared to the publication's previous coverage.

Still, I noted that the article relied on developer Forest City Ratner and architect SHoP to put the best possible spin on what was clearly a failure. From the article: At the project's outset, it took the factory (managed by Skanska at the time) two to three weeks to build a module. By the end, under FCRC's management, the builders cut that down to six days. "The project took a little longer than expected and cost a little bit more than expected because we started the project with the wrong contractor," [Forest City's Adam] Greene says.Skanska jabs back
Well, Forest City's estranged partner Skanska later weighed in--not sure whether they weren't asked or just missed a deadline--and their article was updated 12/13/16. Here's Skanska's statement, which shows th…

Not just logistics: bypassing Brooklyn for DNC 2016 also saved on optics (role of Russian oligarch, Shanghai government)

Surely the logistical challenges of holding a national presidential nominating convention in Brooklyn were the main (and stated) reasons for the Democratic National Committee's choice of Philadelphia.

And, as I wrote in NY Slant, the huge security cordon in Philadelphia would have been impossible in Brooklyn.

But consider also the optics. As I wrote in my 1/21/15 op-ed in the Times arguing that the choice of Brooklyn was a bad idea:
The arena also raises ethically sticky questions for the Democrats. While the Barclays Center is owned primarily by Forest City Ratner, 45 percent of it is owned by the Russian billionaire Mikhail D. Prokhorov (who also owns 80 percent of the Brooklyn Nets). Mr. Prokhorov has a necessarily cordial relationship with Russia’s president, Vladimir V. Putin — though he has been critical of Mr. Putin in the past, last year, at the Russian president’s request, he tried to transfer ownership of the Nets to one of his Moscow-based companies. An oligarch-owned a…

Former ESDC CEO Lago returns to NYC to head City Planning Commission

Carl Weisbrod, Mayor Bill de Blasio's City Planning Commission Chairman and Director of the Department of City Planning, is resigning,

And he's being replaced by Marisa Lago, currently a federal official, but who Atlantic Yards-ologists remember as the short-term Empire State Development Corporation CEO who, in an impolitic but candid 2009 statement, acknowledged that the project would take "decades."

Still, Lago not long after that played the good soldier at a May 2009 Senate oversight hearing, justifying changes in the project but claiming the public benefits remained the same.

By returning to City Planning, Lago will join former ESDC General Counsel Anita Laremont, who after retiring from the state (and taking a pension) got the job with the city.

Back at planning

Lago, a lawyer, in 1983 began work as an aide to City Planning Chairman Herb Sturz, and later served as the General Counsel to the president of the NYC Economic Development Corporation, Weisbrod himself.