DOB filings, lobbying contract suggest that Greenland is moving toward the platform project, crucial to new towers. But what are the terms & assumptions?

Yesterday I expressed skepticism about the likelihood that Greenland USA, which owns nearly all of Atlantic Yards/Pacific Park going forward, would proceed with the first phase of the platform over the Vanderbilt Yard in the second half of this year.

That platform over Block 1120--between Atlantic Avenue and Pacific Street and between Sixth and Carlton avenues--would ultimely support three residential towers, with retail at the base. The first of three towers, B5 (700 Atlantic Avenue), would start going vertical a year after the platform started, according to a previous Greenland statement.

After all, despite the developer's incentives to do proceed, including looming fines for affordable housing not built by May 2025, there are macro disincentives, such as high interest rates and the absence of the 421-a tax break, as well as the financial struggles of Shanghai-based parent Greenland Holdings Corp.

Other evidence points to progress

That said, other evidence, as noted below, does point to the developer's intentions to proceed. The actual decision to proceed, though, may depend on other factors, including permitting from the Long Islande Rail Road and other agencies, as well as a renegotiation of the fines/deadline or even new public assistance for the platform, which could, in each of two phases, cost at least $200 million.

One piece of evidence, as indicated in the document embedded at bottom, is the 2023 extension of the developer's long-running lobbying contract with Kasirer. 

Whereas between 2019-2022 the contract was for the "B4 Project," the giant tower at 18 Sixth Ave. that has opened as Brooklyn Crossing, the recent renewal refers to the Pacific Park Brooklyn Platform Project."

DOB: 700 Atlantic

As shown in the screenshot at right of the Job Folder, after filing much documentation with the Department of Buildings (DOB) during April and May of 2022, the developer filed new documents in January and February of this year.

Below, a work permit associated with that location--for a temporary construction fence associated with work at both the platform and the B5 site, not vertical construction--was issued June 9, and expires on 1/1/24.

That's a fairly recent action, of course. Also, a Department of Environmental Protection (DEP) certification for work at the site is good through 7/29/24.

DOB: 716 Atlantic

Regarding the platform location at 716 Atlantic, as shown in the screenshot at right of the job folder

As shown in the screenshot at right, after filing much documentation with the Department of Buildings (DOB) from April through September of 2022, the developer filed new documents in May.

Meanwhile, as shown below, a work permit for installation of a construction fence was issued last July 1, and expires this July 1, or this weekend.

Presumably they will try to renew that work permit.

More transparency needed

Either way, this process, as I wrote yesterday, demands a lot more transparency from Empire State Development (ESD), the state authority that oversee/shepherds the project.

Instead, the Quality of Life meetings, long held bi-monthly and featuring representatives of the developer and ESD, have been put on an irregular schedule and then on pause, with the most recent one held in February.

Meetings of the (purportedly) advisory Atlantic Yards Community Development Corporation (AY CDC), were supposed to be held quarterly, but the one in April came after a nine-month lag. Plans for the platform should be aired at the next meeting, but it hasn't been scheduled yet.