Posted Dec 9, 2025, 1:24 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,624
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https://gothamist.com/news/new-atlantic-...-with-taller-towers-higher-income-levels
New Atlantic Yards housing plan takes shape, with taller towers, higher income levels
By David Brand
Dec 8, 2025
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After years of broken promises and abandoned accountability, a decades-old agreement to build hundreds of affordable housing units at the stalled site surrounding the Barclays Center is getting a makeover.
And the state’s economic development authority and a new team of developers behind the project say they want to hear from Brooklynites about their latest proposal at a public session Monday night inside the arena.
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The development group, dubbed Brooklyn Ascending Land Co., is led by the firms Cirrus Real Estate Partners and LCOR, which took over the project in October from the bankrupt firm that failed to deliver nearly 900 units of affordable housing. They have dramatically revised the previous plan and now hope to build taller towers, increase the overall number of units and raise the income levels for apartments considered affordable.
The changes will make the complicated project more financially “feasible,” and potentially more lucrative, according to presentations the developers shared at public meetings over the past month.
Cirrus Managing Partner Joseph McDonnell told community members that building on several sites, especially over an active railyard, would be expensive. He said the project required far more apartments, with the affordable units reserved for higher-earners than the original plan, in order to make economic sense.
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Before work above the railyard begins, McDonnell said the companies would first build on “solid ground” at a parcel on Flatbush Avenue, diagonally opposite from the arena, where a PC Richard and Son and defunct Modells are currently located. The new proposal calls for a pair of high-rises reaching up to 775 feet on the site.
And they have publicly discussed reserving the affordable units for individuals making up to $130,000 a year, and families of three earning close to $200,000. Those income levels are higher than the thresholds outlined in the earlier, unfulfilled affordable housing commitment.
Only after that would they resume work on the platform, McDonnell said.
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