Arena opening is coming up fast and in anticipation of opening day I am proud to announce that Forest City Ratner Companies has hired Terence Kelly to be Barclays Center’s Community Affairs Manager.
Terence’s office will be located at Barclays Center and he will be available to the community to help with any concerns they may have.
As part of his duties at the Barclays Center, Terence will partner with community-based organizations and provide information on the arena’s upcoming events. A resident of Brooklyn, Terence is involved in a number of local community initiatives, including the Ft. Greene/Clinton Hill Community Food Council and Hillstock Music Festival.
You can reach Terence at 917-618-6136 or firstname.lastname@example.org. In addition, we will be setting up meetings with many of you over the coming days to introduce him to key stakeholders.
As a reminder, our Community Liaison Office will continue to operate and can be reached at (866) 923-5315 email@example.com
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…