Developer admits Pacific Park project will take until 2035
The developers of the vexed Pacific Park Brooklyn development (formerly Atlantic Yards) have quietly acknowledged–in a non-publicized document–that the full 22-acre project, with 11 more towers planned beyond the four already open, likely won’t be finished until 2035.
That’s ten years later than the previous estimate of 2025, which remains the deadline for the 2,250 required units of affordable housing, of which 1,468 remain to be built. (The plan also calls for 3,720 market-rate units to be built; only 460 have been constructed so far.)
The new deadline is 32 years after the arena-and-towers project was announced in 2003, with an estimated ten-year buildout, and comes after enormous changes in the project plans, project ownership, and the apartment market in and around Downtown Brooklyn.