The public editor receives as many as 300 messages on a typical day, and the total can spike into the thousands if a blogger or one of the media watchdog sites urges its followers to protest something the paper has published. Coverage of presidential politics in 2008, the Middle East at any time, and the latest developments in the sex abuse scandal in the Catholic Church reliably produced torrents of protest.He doesn't mention any concerns raised about the Times's coverage of Atlantic Yards, and he surely had enough to keep him busy. But he was certainly put on notice.
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…