It's keyed to the topping out of the 550 Vanderbilt condo and the 535 Carlton "100% affordable" building, but the new name, of course, was announced in 2014.
From the piece:
The development initially was called Atlantic Yards after the Long Island Rail Road yard beneath Atlantic Avenue, but after some 30 lawsuits attempting to stop the project, the developers think the original name has too much history.My comments below
Pacific Park refers to Pacific Street, which is being de-mapped and turned into a public park. It's a marketing strategy to attract buyers for condos that run from $845,000 for a one bedroom to nearly $7 million for a penthouse.
In contrast, the 298 rental units at the Carlton building will be 100 percent affordable, supported by the city's affordable housing program.
"For a family of four now, it would range from $24,000 in terms of income on the lowest band up to $124,000 for a family of four for a two bedroom unit," Yu said.
Some 30 lawsuits? Not true in the slightest. Did you ask for a count?
A 22-acre neighborhood? That crosses wide Flatbush Avenue? And takes only a part of the block between Dean and Pacific Streets?
A "public park" that is *not* a public park, because it's privately operated open space, with shorter hours and more limitations than a park?
An income range up to $124,000? Forest City's *own* chart says $138,435 for a family of four, based on a 2014 income base.
And that has risen nearly 3% to $142,394 by 2016, given the rise in Area Median Income (AMI) from $83,900 to $86,300 for a four-person household.
Nor did you mention how the affordable units in the two "100% affordable" are skewed to households earning well over $100,000. Not what the typical Brooklynite thinks "affordable" means:
These are the projected rents as of 2014 for 535 Carlton and 38 Sixth, about $3000 for a 2-bedroom unit. The numbers should now be bumped up nearly 3%.