Very nice rendering of what the final product will look like.
As we can see, it will add a lot to the expansiveness of the DoBro high rise node.
Credit: NYY
Credit: NYY
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Holy moly!
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http://rew-online.com/2018/07/05/54863/
Greenland USA and Forest City Realty Trust have completed the restructuring of Greenland Forest City Partners, the joint venture that is developing Pacific Park Brooklyn
The restructuring give Greenland USA 95 percent ownership of the new 22-acre mixed-use development next to the Barclays Center. Forest City’s interest decreases from 30 percent to five percent.
Greenland USA will assume primary responsibility for the remaining development work at Pacific Park.
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big news!
In a breakthrough at the slow-moving Pacific Park project, big-league New York developers TF Cornerstone and the Brodsky Organization are taking control of three major sites from the 22-acre complex’s current owners, a joint venture dominated by Greenland USA, a subsidiary of Shanghai-based development giant Greenland Group, The Post has learned.
The purchases are due to close at the end of 2018. They are likely to dramatically accelerate the progress of Pacific Park, where only five of fifteen planned buildings have yet gone up on the blocks east of where Atlantic and Flatbush Avenue converge.
“These transactions push the whole project forward” to meeting a 2025 deadline with the state to deliver 2,250 affordable apartments, Solish said. If the deadline isn’t met, they’ll face “liquidated damages,” meaning they’ll have to pay a cash penalty to the state.
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more good news. TF Cornerstone is taking over the city borough by borough, 
TF Cornerstone paid Greenland Forest City $143 million to purchase two Pacific Park development sites it plans to build 800 apartments on.
The deal for 615 and 595 Dean recently closed, according to Commercial Observer. The developer, known primarily for its developments in Queens and Manhattan, plans to build two towers with 800 apartments and retail, as well as over 70,000 square feet of open space. Greenland Forest City had planned to construct a 25-story condominium building at the site before selling it.
As part of the deal, the firm will also take over two development leases the previous owner had with the state’s Empire State Development Corporation. Once construction is completed, those will convert to ownership.
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Last week
The last of the buildings that were on the railroad side have been demolished.
They were cleaning up the site at B12
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more towers
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Those 2 new ones seem kinda boring.
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i’d take bland over ugly. Which is what most of the mega development (minus Barclays) has been so far.
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Looks like they’re getting ready to start 615 and 595 Dean Street. This project is so watered down.
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