Long-Awaited Housing at Atlantic Yards Moves Forward

Tuesday, July 17, 2012

A rendering of Atlantic Yards from Dean Street and Sixth Avenue. (Forest City Ratner Companies)

The plan to build affordable housing at Atlantic Yards in Brooklyn appears to be moving forward after the slumping economy caused major delays.  The city's Housing Development Corporation will hold a public hearing Wednesday on the sale of about $92 million in tax exempt bonds that will be used to finance more than 360 apartments.

Forest City Ratner, the project’s developer, said half the units in the new building will be below market rates and while preliminary work has begun, formal construction is scheduled for late 2012.The development plan calls for 6,430 apartments to eventually be built at the site. The bonds would help pay for the first building to go up.

According to a 2009 plan issued by Forest City Ratner, the housing should've started shortly after construction on Barclays Center began. But city Councilwoman Letitia James said that never happened. "And so now here we find ourselves in 2012 planning on building this affordable housing which will probably not be built until 2013 some time," she said. James, a vocal critic of the large development project, said nevertheless she is happy the housing was moving forward.  

Construction on Barclays, the soon-to-be-home of the Brooklyn Nets, started in 2010 and is expected to open this September.

Forest City Ratner blamed delays on the bad economy and lawsuits opposing the project.

Last year, the developer floated plans to build the 32-story building with prefabricated modules. Unions, concerned that using this construction method would result in fewer jobs that paid less, objected. The two sides have been negotiating. A spokesman for the developer said nothing had been finalized yet. 


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Comments [5]

Curious in Brooklyn from Brooklyn

Please send me an application and deadline for these houses

Sep. 10 2013 02:33 PM
Mary Porter from BROOKLYN

please send me a application for a 2-bedroom apartment i would love to move back to brooklyn thank you!

Jun. 25 2013 01:40 PM
andy from NEW YORK CITY

Does anyone know how much a one bedroom is? If it's over 500.00/month-Brooklyn and their political leaders are a big, big joke. New York's politician's get their nails done, play golf and even weight soda. That's what they get paid to do. At Christmas they all wake up and open their bonus. MOST NYC POLITICIANS AND HUMAN SERVICE PERSONNEL ARE INADEQUATE AND THEY ARE FURTHER RUINING THE CITY'S LOWER AND MIDDLE CLASS POPULATION. .

Jul. 18 2012 07:37 PM
Tal Barzilai

That quote be Ratner is nothing but an excuse. If any delays did occur, it was because of the dispute by his own company or with the ESDC, but not by the opposition. Majority of the housing isn't even going to be affordable as it's truly defined. Also, it's very likely that if anything that is remotely affordable wouldn't be built until the tail end assuming any housing gets built. In a study taken by Ratner's own numbers, it was found that the two lowest incomes wouldn't even be part of it, while the highest will be the majority. Once again, who is really being affordable for? My guess is the rich as this project is presented as a playground for. Nevertheless, the arena was never the focus, it was just a developer trying to grab more land for himself, plus some of those building were supposed to commercial, but were only turned residential after many businesses dropped out.

Jul. 18 2012 05:42 PM

The lawsuits that have been filed since 2009 have sought to accelerate construction of affordable housing, not delay it. The delay in the start of this building is solely attributable to Forest City Ratner.

Jul. 18 2012 07:15 AM

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