From Gib Veconi's affidavit in the case filed by BrooklynSpeaks and allies challenging the Empire State Development Corporation's approval of Atlantic Yards. All organizations participating in the [Community Benefits Agreement] were to receive compensation from [developer Forest City Ratner] to provide various services as a function of the Project. In addition, FCRC could exit the agreement at any time by paying fees of $500,000 to ACORN and the other participants. While the first statement is true--Forest City Ratner's MaryAnne Gilmartin confirmed it in July--the second is not. Rather, it's an Atlantic Yards myth that still has legs. According to the CBA , Forest City Ratner doesn't have to pay anything if it abandons the project other than $500,000 to be used by Brooklyn United for Innovative Local Development (BUILD) to fund the Pre-Apprentice Training initiative. Nor is a successor who buys the project bound to the CBA. ACORN could go to court to enforce th...
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.