Atlantic Yards/Pacific Park in 2018: Greenland takes control; new developers join; Islanders begin departure; Forest City's demise; timetable doubts mount
Here's my 2019 preview . As I like to say, there's usually a surprise every year with Atlantic Yards/Pacific Park. In 2018, there was more than one, and the first--and largest--came in January, as the project continued a curious stall, with no new building starting since mid-2015. (Infrastructure work has continued.) Forest City New York CEO Maryanne Gilmartin, Bruce Ratner's designated successor, saw the writing on the wall and/or followed her dream, leaving (with four lieutenants) to co-found a new firm, L&L MAG. That was coupled with the the decision, after a year of negotiations, by Forest City to pull back from Pacific Park and further lower its risk, selling all but 5% (of its previous 30% share going forward) to Greenland USA, which fully controls Greenland Forest City Partners. Cuomo boosts Belmont Some other surprises, though smaller, were significant. The New York Islanders and the Barclays Center mutually opted out of their purported 25-year deal ...