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.
Who Really Controls the Six Railyard Sites? Maybe Fortress is in the Driver's Seat. (link)
The private investment firm (owned mainly by Abu Dhabi fund!) may now control the EB-5 collateral. Can Empire State Development clarify this at meeting tomorrow?
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