Weekly Digest: Modular Catch-Up, and Foreclosure Considerations (link)
No, 461 Dean didn't save 20% on construction. A modular successor raises doubts. Will foreclosure finally proceed for railyard sites? Has EB-5 middleman stepped back?
This watchdog blog, by journalist Norman Oder, concerns the $6B project to build the Barclays Center arena & 15-16 towers at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park Brooklyn in 2014 after the Chinese government-owned Greenland USA bought a 70% stake going forward. In 2018, once the arena & four towers were built, Greenland bought out most of Forest City's stake, then sold three leases to other companies.
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