This watchdog blog, by journalist Norman Oder, covers the project to build the Barclays Center arena and 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 Shanghai-based Greenland USA took a majority share. Forest City left in 2018. Eight towers and the arena have been built. After a stall, Cirrus and LCOR in 2025 took over as master developers. A plan to complete the project is pending.
Examining Hudson Yards Plan, IBO Estimates $2.2B in Bonds, $1.3B in Residential Tax Breaks (link)
Bonds would pay for platform, MTA Lease, open space. Reinvent Albany outraged. Doesn’t Atlantic Yards financing deserve the same level of analysis?
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