Atlantic Yards/Pacific Park Report

This is the fourth of five articles on the March 25, 2025 meeting of the advisory Atlantic Yards Community Development Corporation (AY CDC), held at the office of its parent Empire State Development (ESD). The first concerned the Pacific Park Conservancy. The second concerned making BSE Global pay for a permanent arena plaza. The third concerned the unusually large plan for Site 5. The fifth concerned the project's future. The main reason for the meeting was to approve the annual $250,000 budget for the AY CDC. I had, in my preview , raised a question about who's paying: the answer was Greenland USA, which remains, nominally, the project's master developer, though it has been poised to lose the six railyard development sites to foreclosure. Presumably if/when Greenland loses those sites in foreclosure--but still keeps Site 5 and B1--the required payments would be shared among those with responsibility for the project. Other issues Directors pointed to a few issues raise...

This is the second of three articles about the Aug. 8 Atlantic Yards Community Development Corporation (AY CDC) meeting. The first concerned the mystery topic discussed in Executive Session. The third concerned plans for Site 5 and community engagement about the project's future.  Late in the meeting, AY CDC Director Gib Veconi brought up an issue related to the plans for Site 5, which involve moving the bulk from the unbuilt flagship tower once slated to loom over the arena (B1, aka "Miss Brooklyn") across Flatbush Avenue to create a giant, two-tower project at the parcel currently occupied by the big-box stores P.C. Richard and the now-closed Modell's. Girls'  basketball camp  in July In the 2021 Site 5 Interim Lease, as detailed in Exhibit K at right, Greenland got Empire State Development (ESD), the state authority that oversees/shepherds the project, to support a larger project than previously proposed, with the taller tower rising 910'. Not only would...