Weekly Digest #2: Still Waiting for Clues
We know there will be no project construction in the first half of 2024. But maybe a state renegotiation?
Programming note: I plan to publish a new, bigger-picture article every week, on Mondays. But tomorrow’s a holiday, so I’ll send it on Tuesday.
This weekly digest offers a way for people to keep up with my Atlantic Yards/Pacific Park Report blog, without the (slightly delayed) subscription option, or going to that web site regularly. I’ll also link to my other coverage in this newsletter.
From: Learning from Atlantic Yards/Pacific Park (Substack)
Dec. 18: Was Atlantic Yards fundamentally flawed? Yes, a cascade of problems impeded progress. At the start, though, Deputy Mayor Dan Doctoroff thought it "a crazy risk." He just didn’t say so.
From: Atlantic Yards/Pacific Park Report
Dec: 19: Empire State Development (ESD), the state authority that oversees/shepherds Atlantic Yards/Pacific Park, meets in two days. Despite the upcoming foreclosure sale of the developer’s interest in six sites, Atlantic Yards is not on the agenda. Oh, and public comment is due before the meeting, requiring clairvoyance.
Dec. 20: In the latest required six-month project look-ahead, master developer Greenland USA says plainly: the platform over the railyard, location for those six development sites, won't start. Previously, it had promised (or hinted at) progress.
Dec. 21: In the publication Sportico's latest NBA valuations, the value of the Brooklyn Nets, plus the arena company, is estimated at $3.98 billion, but the growth rate far lags the league. Blame the demise of the “superteam,” which attracted sponsors.
Dec. 22: Nope, there’s no talk of Atlantic Yards at the ESD meeting, but a spokeswoman says the advisory Atlantic Yards Community Development Corp. may meet early in 2024.
So something’s likely cooking regarding the project’s future. A statement from the Metropolitan Transportation Authority suggests it would be a complicated process, involving parcel purchases and platform construction, to unlock those development sites.
Dec. 23: From HellGate: "The Eric Adams Table of Success" makes some connections, including, yes, Woodland, that bar/nightclub near the arena that originally showed the would-be mayor in a questionable light.