Forest City's parent contradicts claim that six buildings are under construction, citing four (as I did)
|From Atlantic Yards CDC presentation|
Now Forest City Realty Trust, parent of Forest City Ratner, confirms that only four buildings have been built or are under construction.
As shown in the Supplemental Package for the fourth quarter of 2016, submitted to the Securities and Exchange Commission, FCRT does not cite 615 Dean (B12) or 664 Pacific (B15):
Pacific Park Brooklyn - Brooklyn, NY
Pacific Park Brooklyn, a 22-acre mixed-use project, is located adjacent to the state-of-the-art arena, Barclays Center. At full build-out, Pacific Park Brooklyn is expected to feature more than 6,400 units of housing, including 2,250 affordable units, approximately 250,000 square feet of retail space, and more than 8 acres of landscaped open space. Projects currently under construction include 535 Carlton, a 100% affordable rental building with 298 apartment units, 550 Vanderbilt, a 278-unit condominium building, 38 Sixth Ave, a 303-unit, 100% affordable rental building and parking garages which are expected to include 370 parking spaces. Current completed project is 461 Dean Street, a 50% market-rate and 50% affordable rental building with 363 apartment units. During the three months ended September 30, 2016, we recorded an impairment of $299.3 million ($266.0 million and $33.3 million allocated to our projects under development and projects under construction, respectively) related to this project.