Forest City has resumed work on the stalled B2 tower at Pacific Park (née Atlantic Yards), according to The New York Daily News. The article, however, was thin on specifics of exactly what work has been resumed. As far as we can deduce, it means the employees who have been hired — or rehired — so far are now reporting for work every day.
Forest City has, presumably, had plenty of time during this pause to fine-tune any issues with the way the modules fit together – although they always said the design is not the issue — so perhaps they’ll soon start churning them out and stacking them high. We’re watching with interest.
Construction officially kicked off at the second affordable Atlantic Yards/Pacific Park building at a groundbreaking ceremony this morning at 535 Carlton Avenue in Prospect Heights. Greenland Forest City Partners also launched a fancy new website for Pacific Park and published new renderings for 535 Carlton Avenue as well as a new rendering and more information about another forthcoming building, 30 6th Avenue, pictured above.
It will rise 23 stories and, as already reported, have 300 units, all of which will be affordable. It will, like the arena and the stalled B2 tower, be designed by SHoP Architects and house the development’s health care center and shops, plus underground parking, according to the website. It is scheduled to break ground in June.
Several local politicians attended the groundbreaking for 535 Carlton, including Mayor de Blasio, Council Member Laurie Cumbo, and Borough President Eric Adams, according to a press release we received. As already reported, the 17-story 100 percent affordable rental building will have 298 units. Fifty percent of the building will rent to families making between 145 and 165 percent of the area median income, which ranges from $121,655 to $138,435 for a family of four, according to DNAinfo. The other half of the apartments will be set aside for middle- and low-income families who make 40 percent of the area median income, or as little as $33,560 for a family of four.
Click through to see a previously published rendering of 535 Carlton, some new exterior renderings, and a photo of the groundbreaking today.
Greenland Forest City Partners will break ground next week on the newest piece of Atlantic Yards/Pacific Park, a 100 percent affordable building at 535 Carlton Avenue. A groundbreaking ceremony is set for next Monday, and construction starts Tuesday, according to Atlantic Yards Report.
Construction on 550 Vanderbilt Avenue, the market-rate building planned for the big lot between Pacific, Dean, Carlton and Vanderbilt Avenues will also start Tuesday, a spokesperson for the partners confirmed. Overall, the two developments will bring 298 affordable rentals and 282 market rate ones to the block-long property.
CookFox is designing both of the 17-story towers. Greenland Forest City just finished knocking down a big warehouse at 752 Pacific Street to clear the way for construction.
The big warehouse at 752 Pacific Street in Prospect Heights is now gone, demolished to make way for two Atlantic Yards (aka Pacific Park) buildings, according to a rep from Greenland Forest City, who sent us these photos. Demolition of the 70,000-square-foot building began two weeks ago at the large site between Carlton and Vanderbilt Avenues, as reported.
Two buildings are planned for the property — an affordable development at 535 Carlton Avenue and a market-rate one at 550 Vanderbilt Avenue. Click through to see what the warehouse looked like.
Forest City Ratner and Skanska are discussing a buyout deal and have already set a price, although other terms are still under negotiation, according to a letter Skanska sent to the judge overseeing the former partners’ lawsuits over the stalled modular B2 tower. In fact, a closing date was set for Monday, Atlantic Yards Report reported. There has been no announcement from either party, so perhaps the closing has not yet taken place.
Forest City would buy out Skanska, freeing up Forest City to restart construction on the stalled tower. A buyout deal could include compensation for cost overruns the two have been fighting about in court and put the lawsuits to rest.
Update: We have just received a statement from Skanska. It says: “Today FCRC Modular LLC and Skanska Modular LLC announced that FCRC Modular LLC will purchase the ownership interest of Skanska Modular LLC in their jointly owned modular factory business in the Brooklyn Navy Yard, FC+Skanska Modular LLC, for an undisclosed amount. The agreement, achieved through mediation with Roger J. Peters, Esq., marks the end of the companies’ partnership at the modular factory and makes FCRC Modular the sole owner and manager of the modular business. Litigation between the companies over the B2 Project will continue and is not impacted by this agreement.”
Greenland and Forest City Ratner Friday started demolishing the big old warehouse at 752 Pacific Street to make way for two apartment buildings planned for the block between Carlton and Vanderbilt Avenues — a large piece of the Atlantic Yards/Pacific Park development. A representative for Forest City Ratner sent us these photos of the demolition.
The 100 percent affordable 535 Carlton Avenue and market-rate 550 Vanderbilt Avenue will both rise on this property, bringing a total of 580 apartments, 298 of which will be affordable. The rep revealed that two other buildings (“B13 and B14″) are tentatively planned for the site as well, but permits haven’t been filed yet. Click through to see more.
Forest City Enterprises is selling its 55 percent majority stake in Barclays Center, according to Street & Smith’s Sports Business Journal. Possible candidates include Nets owner Mikhail Prokhorov, who already owns 45 percent of the arena, or the new owners of the Islanders. No price has been named, but investment banking sources quoted by SBJ speculated $750,000,000 would be the top valuation, based on an estimated $30,000,000 in annual cash flow.
Atlantic Yards Report called the sale “curious,” considering the center cost more than $845,000,000 to build, according to various estimates. What do you make of it?
As Forest City Ratner battles builder Skanska in court over the stalled B2 tower and Greenland Forest City Partners moves ahead with the rest of the development, New York YIMBY has snagged a rendering of a new piece of Atlantic Yards/Pacific Park: a 17-story condo development planned for the large vacant lot on Dean Street between Carlton and Vanderbilt. CookFox is designing the 275-unit tower, which will have an address of 550 Vanderbilt Avenue.
New building applications were filed last month for the tower, which will include 326,047 square feet of residential space and 4,731 square feet of ground floor retail, as reported. The exterior will be a mix of masonry and precast concrete, which will provide “a gradual aesthetic transition” between the historic townhouses in the area and “the more modernist SHoP towers of the western end of the site,” according to YIMBY.
To recap the project’s timetable: the SHoP-designed modular tower at 461 Dean Street (formerly B2) has started construction but is stalled, 30 6th Avenue next door is supposed to break ground in the middle of next year, and the affordable tower at 535 Carlton and 550 Vanderbilt are both scheduled to break ground by the end of this year. Condo sales are supposed to start mid-2015, according to YIMBY.
Click through to see a close-up of the entrance of 550 Vanderbilt. What do you think of the design of the building, which will fill a prominent hole at the corner of Vanderbilt and Dean Streets?
As Skanska and Forest City prepare to meet in court tomorrow, Atlantic Yards Report has unearthed documents that detail a long list of problems with the construction of the modular tower, B2. To make a long story short, the tower could leak.
In more detail, there have been lots of problems with the alignment of the modules, according to Skanksa. For example, one problem is the tolerances between match plates, which tie together the modules. The original drawings called for a 1/4 inch tolerance but in the field the bolt holes only allowed a tolerance of 1/16th of an inch. To correct this flaw, the holes were enlarged, but apparently they became too big (1 and 3/4 of an inch), which “created the potential” for misalignment, according to the documents. The factory in the Navy Yard was also too small to allow for efficient production.
A hearing for a preliminary injunction to reopen the factory takes place tomorrow morning in Manhattan. Click through to Atlantic Yards Report for tons more insight on the construction issues Skanska is alleging. Also, the problems with the modular construction could freeze lending for modular projects in the area, according to a story in The New York Daily News.
The StorageMart on Atlantic Avenue — a huge, hard-to-miss building — is closing to make way for Atlantic Yards. Management sent out a notice via email to its customers yesterday, which one of them forwarded to us. Turns out the building is one of the ones being taken over by eminent domain! The judge granted the state’s request for all seven of the remaining Atlantic Yards sites yesterday, as DNAinfo and Atlantic Yards Report were the first to note.
StorageMart isn’t happy about the seizure. “The New York State Urban Development Corporation dba Empire State Development (ESD) has been trying for years to take over our property located at 718 Atlantic Ave as part of the Atlantic Yards project. Unfortunately it finally succeeded on August 29, 2014,” the email says.
The complex between Pacific and Dean Streets will rise 17 stories and house 282 units. Designed by Cook+Fox, the project will include 326,047 square feet of residential space and 4,731 square feet of ground floor retail. (more…)
As Forest City and Skanska wrangle over the stalled B2 modular tower, Forest City and partner Greenland are losing no time getting the next projects going. Permits have been filed for the second Atlantic Yards (now renamed Pacific Park) tower. This one will be at 535 Carlton, at the corner of Dean Street, and will be 100 percent affordable rentals.
The building will be 19 stories with 298 apartments, as New York YIMBY was the first to report. The architect of record is Cook+Fox. The project is supposed to break ground in December, Forest City Ratner promised.