Recently, we were informed by representatives of your office that all callers reporting Atlantic Yards incidents to 311 would be required to identify the location of the incident as “620 Atlantic Avenue” so 311 would be able to identify the report as being related to Atlantic Yards. This is the case even if the incident being reported is blocks away from 620 Atlantic Avenue. Frankly, we don’t think this is going to work. For the last eight years, thousands of people living near the project have been used to thinking of the site as “Atlantic Yards” or “Barclays Center,” in part because Forest City Ratner has spent hundreds of thousands or perhaps millions of dollars publicizing those names. Nobody recognizes “620 Atlantic Avenue.” However, we were told that enabling the 311 system to key incident reports to “Atlantic Yards” or “Barclays Center” would require the entire system to be rewritten.For more, including Veconi's suggested solutions, go to Atlantic Yards Watch.
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…