Wednesday, June 25, 2014

ESD meeting Friday to approve Atlantic Yards revision; amount of parking at issue; big joint venture announcement coming?

The board of Empire State Development (ESD), the state agency overseeing/shepherding Atlantic Yards, will meet Friday, June 27, 2014, at 9:45 am:
Empire State Development
633 Third Avenue – 37th
Floor Conference Room
New York, New York 10017
The agenda should be posted with one day's notice here.

Among numerous other items, the board is expected to approve a revision to the Atlantic Yards Modified General Project Plan, which would shift bulk from Phase 1 to Phase 2 and reduce parking onsite from 3,670 spaces to either 2,896 parking spaces or (I'd bet) 1,200 spaces.

(The General Project Plan was passed in 2006 and first revised in 2009, to allow, among other things, phased acquisition of property, which saved Atlantic Yards developer Forest City Ratner cash flow.)

Sometime after that, I expect a big announcement of the planned but not yet finalized joint venture between Forest City and the Chinese government-owned Greenland Group and then, on or after Monday, the beginning of a lot of roof- and railyard-related work.

The meeting is open to the public. For those who don't want to sit through the whole agenda, web casting of the meeting is available at http://www.esd.ny.gov/webcasts/.

As noted in the meeting announcement, due to 633 Third Avenue building procedures, those attending in New York City please RSVP by 5:00 pm on Thursday, June 26, 2014. Members of the press should please call (800) 260-7313; Members of the public should please call (212) 803-3794.


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