NEW YORK | Pacific Park Brooklyn (Atlantic Yards) | 15+ Towers

[chris08876]

Just one of the towers in the mega development. From twitter.


Credit: https://twitter.com/pacificparkbk

[chris08876]

The new Brooklyn rises | Pacific Park | Prospect Heights | Brooklyn | NYC | 2016 by Peter, on Flickr

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Credit: https://twitter.com/pacificparkbk

[chris08876]

It was just two months ago that 461 Dean Street, the modular building designed by SHoP, topped out (the first structure at the site to do so besides the Barclays Center). And today, that site’s neighbor, 38 Sixth Avenue, followed suit: the SHoP-designed building had its official topping-out ceremony, reaching its full height of 23 stories. Curbed photographer Max Touhey was on the scene today to capture some images of the building, which will also have ground-floor retail and parking garages.

This building is also unique because it’s one of two within the larger Pacific Park megaproject that’s dedicated solely to affordable apartments. (The other is the COOKFOX-designed 535 Carlton Avenue, which topped out in February.) When 38 Sixth Avenue opens sometime in the next couple of years, it will bring 303 rentals to the complex, all of which will be below market rate for the neighborhood.

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CBny

[chris08876]

Credit: https://twitter.com/Tectonicphoto

[chris08876]

A decade on, Brooklyn’s Pacific Park megaproject is finally realized

In a press release issued at the time, FCR estimated that "the full Brooklyn Atlantic Yards development will take approximately 10 years" from the time of city and state approval. That approval was received in 2006, paving the way for the megaproject—one of the biggest undertakings of its kind in city history—to move forward.

Fast forward 10 years to the present day. While the full development—rechristened Pacific Park in a tricky bit of rebranding—isn’t complete, significant progress has been made since 2014, when construction on the oft-stymied megaproject was fast-tracked. At that point the Barclays Center had been open for nearly two years, but work had begun on only one of the buildings included in the first phase of construction: B2, now known as 461 Dean Street, the modular building designed by SHoP Architects that’s snuggled up next to the arena.

That’s not the case anymore: Six of the megaproject’s buildings are now in various phases of construction, with at least three—SHoP’s tower, along with 535 Carlton (devoted entirely to affordable housing) and 550 Vanderbilt (market-rate condos)—due to welcome residents before the end of the year. Around 800 of the apartments currently in the works are deemed affordable. And a walk through the site, which stretches the length of Atlantic Avenue between Flatbush Avenue and Vanderbilt Avenue, reveals buildings rapidly rising out of the ground, and staging work beginning on the eight-acre park that gives the development its name.

Simply put, the megaproject formerly known as Atlantic Yards is truly, finally, becoming a thing. "We believe we're building a neighborhood," says MaryAnne Gilmartin, the president and CEO of Forest City Ratner. "We are knitting together some of the most incredible neighborhoods in the country, but we're also building a new neighborhood."

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NYCurbed

[chris08876]

Credit: JC_Heights

[Nexis4Jersey]

Taken on 12/23/16

[chris08876]

Construction Update: 461 Dean



Construction Update: 550 Vanderbilt



Construction Update: 535 Carlton



Credit for all: PacificParkBK

[chris08876]

Credit: Tectonic

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Credit: tectonic

[chris08876]

Barclays Center Arena - 20170130_0830 by Atlantic Yards Watch Web Cam 4, on Flickr

[chris08876]

A nice little visual of the Pacific Park (AY) site:


Credit: trd

Formerly known as Atlantic Yards, the $6 billion Pacific Park project will bring 6,430 new apartments (2,250 of which will be priced below market rate), an eight-acre park, and a variety of shops to Prospect Heights, Brooklyn. The site already boasts the world’s tallest modular apartment building, which opened in November 2016.

The full Pacific Park development should be complete by 2025.

[chris08876]

Sales at Forest City-Greenland’s 550 Vanderbilt slow down

Sales at Forest City Ratner and Greenland Group’s Prospect Heights condominium development 550 Vanderbilt have slowed considerably in recent months, which developers attributed to a weakening condo market.

The joint-venture partners have sold 167 units as of late January, Forest City executives said during an earnings call Monday morning — meaning they sold 27 units in the seven months between June and January. They had sold 140 units during the first 12 months of sales, between June 2015 and June 2016.

“Pricing is within our our pro-forma range, although the pace is modestly slower than initially anticipated,” said Robert O’Brien, CFO of Forest City Realty Trust, the parent company of Forest City Ratner. According to O’Brien, 110 apartments in the 278-unit building remain available.

Despite Forest City’s assessment, appraiser Jonathan Miller of Miller Samuel told The Real Deal that the Brooklyn condo market “doesn’t seem to be slowing down. In fact I’ve had a number of people tell me that because of all the emphasis on rentals there is a shortage of condos.” Slowing sales at 550 Vanderbilt could boil down to high asking prices, he speculated.

StreetEasy data shows that sales have remained brisk in recent months at competing condos the Oosten in Williamsburg, which launched sales in 2014, and the 338-unit Austin Nichols House, which launched sales in May 2016.
550 Vanderbilt is part of the mixed-use megadevelopment Pacific Park. Construction at 550 Vanderbilt and at two rental buildings is under way, but in November the REIT’s CEO David LaRue said the partners are delaying the remaining buildings amid a supply glut in Brooklyn’s residential market.

“There is new supply coming into Brooklyn,” LaRue said at the time. “The market will end up absorbing it but it will have the normal effect that supply has on any given market.”

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https://therealdeal.com/2017/02/27/sales-at-forest-city-greenlands-550-vanderbilt-slow-down/

[chris08876]

535 Carlton—Pacific Park’s 100 Percent Affordable Residential Building

“This building is 100 percent affordable. That affordability allows a diversity, not only in economics, but in ideas,” Adams added. “It’s a cross-section and pollination of people that make this a great borough and continue to move us in the right direction.”

“This is a great win for Brooklyn,” Adams said. “It is only the beginning.”

The residences include studios, one-, two-, and three-bedroom units with amenities including a fitness center, children’s playroom, residents’ lounge, laundry facilities on each floor, a bike room, a communal terrace, and a rooftop community garden.

The affordable units are available to applicants with incomes falling within the range of $20,126 to $173,415. Monthly rents range from $548 – $2,137 for studios; $589 – $2,680 for 1-bedrooms; $713 – $3,223 for 2-bedrooms; and $817 – $3,716 for 3-bedrooms.

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http://bklyner.com/535-carlton-pacific-parks-100-percent-affordable-residential-building/

[chris08876]

Just one of the more larger components of Pacific Park aka Atlantic Yards.

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Construction Update: 550 Vanderbilt




Credit: FC

[colemonkee]

550 Vanderbilt turned out pretty nice, mechanical penthouse screening notwithstanding. Looks like a render in both of those shots. 535 Carlton, on the other hand, looks like affordable housing, and will start aging poorly in approximately 17 minutes. It's one of those buildings that will be thoroughly regrettable in 5-10 years.

Am I correct in seeing that they are starting the decking of the actual tracks in that last shot?

[pico44]

Yup.

Even Gene Kaufman looks at that thing and cringes

[chris08876]

Originally Posted by colemonkee

Am I correct in seeing that they are starting the decking of the actual tracks in that last shot?

The beginning stages. A little tough to see, but do you see the green stuff in the bottom shot? The rebar (green aka epoxy coated) that sits a top of concrete columns. It goes all along the closest track next to the divider between the rail and the construction zone.

[Submariner]

Is the pictured yard a storage yard?