Skip to main content

Featured Post

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

From the latest (non-) Construction Update: the platform's on hold, & there's nothing to report. What about the requested financial analysis?

The latest Atlantic Yards/Pacific Park Construction Update (bottom), covering the two weeks beginning Monday, Nov. 13, was circulated yesterday at 1:51 pm (lead time) by email by Empire State Development (ESD), the state authority that oversees/shepherds the project.

As with the Update two weeks ago, there's nothing new to report. There are no construction activities planned for the platform needed for construction over the railyard. Each of two platform blocks would support three towers.

That depends on, as I wrote in August, a tax deal to bring back the savings from the 421-a tax break as well as adherence to--or a renegotiation of--the May 2025 deadline for the project's affordable housing. Some 876 (or 877) units remain to be built. 

Further transparency?

I had predicted (wrongly) two weeks ago that it's possible that ESD will no longer circulate these updates, which are historically prepared by the project's developer(s). That said, construction of the school at B15 (662 Pacific Street, aka Plank Road) is continuing. 

And we don't know how many of the 240 affordable units at B12/B13 (595 Dean Street) have been filled.

Of course such information also should surface at the Quality of Life meetings, which were held bi-monthly until recently, and the meetings of the (purportedly) advisory Atlantic Yards Community Development Corporation (AY CDC), which are supposed to be held quarterly.

In both cases, the schedule has slacked.

Financial analysis coming?

As I reported, while the AY CDC requested that the parent ESD prepare, by Oct. 3. a financial analysis of Pacific Park's future, an ESD rep said the report was still in process. The timing--as well as the state authority's capacity to do this in a timely fashion--remains a mystery. 

That report was requested in light of ESD's inchoate plans for public engagement and that potential tax break deal to get Pacific Park towers started. Stay tuned.