The term "Atlantic Yards" is freighted with meaning for Brooklynites, some of it positive but generally not, calling to mind broken promises, skirmishes over eminent domain, delays layered upon delays, and years of jackhammering. Today, developer Forest City Ratner took an important step toward the goal of ushering a bitter public beyond all that, rechristening the current phase of the development "Pacific Park."
The new moniker refers specifically to the long-maligned affordable housing developments, once little more than a chimerical dream but now required to be completed by 2025 thanks to flexing from public officials and community groups.
China-based Greenland Holding Group bought a 70 percent stake in the project in June, around the same time as the newly hastened timeline was announced. Construction on the first tower at 461 Dean has already begun, with controversial prefab units expected to be stacked and ready for move-in by the end of 2015.
The next building to rise will be an 18-story, 298-unit tower at 535 Carlton Avenue, on which construction will begin in December. The market-rate condos at 550 Vanderbilt (275 units) will be next, followed by 30 Sixth Avenue (300 units, all affordable housing). The first two will be designed by the firm COOKFOX and the third by SHoP Architects. A new eight-acre public park, designed by landscape architect Thomas Balsley, will sit in the center of the new developments.
In total, the development will add 6,430 units of housing, 247,000-square-feet of retail space and 336,000-square-feet of commercial space. Though all 2,250 of the affordable units are required to be available for rent by 2025, the entire project could potentially be done by then, as well. [Via Curbed]