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Atlantic Yards/Pacific Park infographics: what's built/coming/missing, who's responsible, + project overview/FAQ/timeline (pinned post)

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So, once-indie Brooklyn Magazine is now part of Nets owner Tsai's BSE Global, which plans a larger media enterprise to champion/amplify Brooklyn.

Nearly twelve years ago, I wrote  A Brand Called Brooklyn  for The Brooklyn Rail, a publication that, with the departure of co-founder Theodore Hamm in 2013, would no longer publish tough coverage of Brooklyn issues. With the advent of the Barclays Center, I wrote, developer and arena operator Forest City was doing its best to "exploit [Brooklyn's]s reputation as a world-class destination." Well, the current arena operator, BSE Global, is now doing more. After all, the acronym comes from "Brooklyn Sports & Entertainment." Notably, the formerly-indie Brooklyn Magazine --mostly a web presence, plus a good podcast --has joined BSE Global, the holding company owned by Joe Tsai (and the Julia Koch family) that includes the Brooklyn Nets, New York Liberty, and Barclays Center operating company. It's apparently part of a larger effort to grow an enterprise called Brooklyn Media, focusing on "sports, music, fashion and sneakers, and food," as embodied

Tomorrow: Brooklyn Raga Massive at Barclays Center's Ticketmaster Plaza, presented by Tsai Foundation's Social Justice Fund, first of three summer concerts.

Hey, you do belong here, right? Under the rubric of the Belong Brooklyn, an initiative of the Joe and Clara Tsai Foundation's Social Justice Fund (SJF),  three free concerts  have been scheduled at the Barclays Center's Ticketmaster Plaza. Tomorrow, from 2:30-7:15 pm, will be the Brooklyn Raga Massive (BRM) festival, followed by theAfroBeats vs Amapiano Takeover Aug. 4 (more here on the genres, one from Nigeria, one from South Africa); then the third annual Angela Yee Day Sept. 1, featuring the locally famous DJ and radio host. Screenshot from Social Justice Fund Social justice or community relations? The series is "featuring"--whatever that means--the Workforce Readiness Awareness Campaign, according to the SJF, which is funded by the primary owner of the Brooklyn Nets, Barclays Center operating company, and more. That campaign emphasizes "employment equity, via workforce readiness and re-entry programs, as a means of belonging": To build awareness on thi

Would Greenland develop Site 5 or sell development rights after new approvals? Well, they've sold (3.5 of) the last 4 sites. Why not Related? Or: Brodsky, TFC.

At a recent meeting of the advisory Atlantic Yards Community Development Corporation (AY CDC), Empire State Development was invited, in a curiously orchestrated sequence ( link ), to solicit a new plan for developing Site 5, catercorner to the arena, from current master developer Greenland USA. Remember, in 2015-16, Greenland Forest City Partners--that's when original developer and joint venture partner Forest City was involved --proposed a giant, two-tower project at the site, currently occupied by the big-box stores P.C. Richard and the now-closed Modell's. A 250-foot, 439,050-square foot tower had been approved, but the developer wanted to move the bulk from the unbuilt flagship tower, B1 (aka "Miss Brooklyn") across Flatbush Avenue to create a much larger project, up to 785 feet tall and 1,142,052 square feet. Upcoming changes? That pending plan likely would be further revised and likely expanded by Greenland USA--or, perhaps their new partner or successor, whoeve

Greenland paid the MTA for Vanderbilt Yard development rights through June 2023. Now it's a mystery. Is all stalled until Related makes its bid?

Developer Greenland USA is current on payments for Vanderbilt Yard development rights--well, sort of. Greenland, through June 2023, had paid the Metropolitan Transportation Authority cumulatively $96 million towards development rights towards six towers over the MTA's Vanderbilt Yard, with an additional $77 million due, in annual $11 million increments, by June 1, 2030. That's per a schedule outlined in 2009, when original developer Forest City Ratner renegotiated the original 2005 pledge of $100 million into $20 million for the railyard parcel needed for (part of) the arena block, and $80 million for the remainder, payable through 2030 at an implied 6.5% interest rate, which one analyst called "a real coup."  By my estimate, as explained below, the payments may have been enough to purchase the rights to build the first three towers, with the remainder should cover the final three towers.  It’s unclear whether Greenland can realize any value for that investment, giv

Downtown Brooklyn Partnership claims (nah) city & state governments have already funded platform over LIRR railyard, claims $686M (!) in arena public support.

Downtown Brooklyn Partnership growth map; Atlantic Yards/Pacific Park is at right The Downtown Brooklyn Partnership (DBP), the "not-for-profit local development corporation that serves as the primary champion for Downtown Brooklyn as a world-class business, cultural, educational, residential, and retail destination," recently released DOWNTOWN BROOKLYN: 20 YEARS OF GROWTH . It's an interesting project, using maps and graphics to show the remarkable transformation of the area--not just the rezoning area--since the 2004 Downtown Brooklyn rezoning, with 32 million square feet of new development. What shocked me was the claim, discussed further below, that city and state governments have already funded the platform, which I first suspected was an inadvertent disclosure of an upcoming subsidy but turned out to be a bogus overreach.  From DBP report Also, it was surprising that the DBP, rather than trying to minimize--as is typical for boosterish business groups--the public s