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Atlantic Yards/Pacific Park FAQ, timeline, and infographics (pinned post)

Hey, four months ago, Atlantic Yards was supposed to be finished (as per Greenland's Chairman, 2013)

Just remember, on 11/3/13, as the Wall Street Journal reported, "Zhang Yuliang, chairman of state-owned Greenland Holding Group, told reporters in Shanghai last week that he expected the development would take about eight years to complete."

That meant November 2021. 

That was after Greenland had signed a memorandum of understanding with Forest City Ratner/Forest City Enterprises to buy 70% of the project going forward, excepting the arena and the B2 tower, aka 461 Dean St.

That was before the new Greenland Forest City Partners renamed the project Pacific Park Brooklyn.

And that was before a whole of other things, from changes in the housing market and the 421-a tax break,  a unilateral pause announced by Forest City, a sale by Forest City of all but 25% (after building three towers together), a new 2025 deadline for the affordable units, and... no platform yet over the railyard.

It's highly unlikely that the 2025 deadline will be met, and it's quite likely the deal will be renegotiated.

Bottom line: don't trust predictions.

In fact, one lesson from Atlantic Yards/Pacific Park is this: all predictions should come in a range, from best-case to worst-case, or, perhaps, with--as The Times described in 2008 regarding the Port Authority's report on Ground Zero--"a target date and a 'probabilistic' date, based on computer analysis of all the many random things that might go wrong.

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