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Atlantic Yards in Brooklyn Changes Project NameAugust 6, 2014
The owners of the huge residential development near the Barclays Center are rebranding it Pacific Park Brooklyn.
The partnership between Forest City Ratner and a Chinese development firm has rebranded the long-running, slow-moving Atlantic Yards residential development as Pacific Park Brooklyn.
The new joint venture—christened Greenland Forest City Partners in honor of the arm of Shanghai-based Greenland Holding Group that recently purchased a 70% stake in the 11-year-old Forest City Ratner project—also released new preliminary renderings of a building designed by COOKFOX Architects and Thomas Balsley Associates.
“While we just closed with our partner Greenland USA, we have been working collaboratively for many months in anticipation of breaking ground on three new buildings over the next year,” said MaryAnne Gilmartin, president of the partnership.
The $4.9 billion project, which includes the Barclays Center, is set to hold 6,430 apartments.
But in response to the sluggish pace of construction, which has commenced on only one building, in June the city and the partnership hammered out a deal to build all of the roughly 2,250 units of affordable housing by 2025, about a decade ahead of when they were originally scheduled to be completed.
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