Skip to main content

Featured Post

Atlantic Yards/Pacific Park graphic: what's built/what's coming + FAQ (pinned post)

From The Bridge: "Forest City in Brooklyn: a Real Estate Pioneer on the Way Out?"

I have a long article in The Bridge today, headlined Forest City in Brooklyn: a Real Estate Pioneer on the Way Out?, preceding an expected announcement in the next day or so about the future of Bruce Ratner's parent company, Forest City Realty Trust.

From the article:
Barclays Center, which opened in 2012 and brought major-league sports and large-scale entertainment back to Brooklyn, may be Ratner’s best-known edifice, and a new borough icon. But the huge project around it, dubbed Atlantic Yards when announced in 2003 and renamed Pacific Park in 2014, proved to be an albatross to both Ratner’s MetroTech-based firm and its Cleveland-based, publicly traded parent company. Now, as the larger Forest City Realty Trust faces potential restructuring or sale, with word of its direction possibly coming this week, Ratner is facing a turning point. His cycle of ambition, vision, and civic prominence in New York is winding down, even as other developers take up the Brooklyn baton.
Also note the surprise announcement of an Atlantic Yards Community Development Corporation board meeting Friday, which suggest something is brewing.

Comments