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February 10, 2011
First residential building at AY to break ground this year
The Real Deal
by Candace Taylor
Within the year, Brooklyn may see the start of construction on the first residential building at the Atlantic Yards, the opening of a new outdoor market in Downtown Brooklyn and sales commencing at new residential condominium 20 Henry.
Members of the real estate community received these and other development updates yesterday at the first installment of the 2011 Brooklyn Real Estate Roundtable series.
Speakers at the event, held at the Brooklyn Historical Society in Brooklyn Heights, included Brooklyn Borough President Marty Markowitz; John Rhea, the chairman of the New York City Housing Authority; and MaryAnne Gilmartin, executive vice president of commercial development and leasing at Forest City Ratner Companies, who gave an update on the Barclays Center Arena.
...The first residential building on the site will be a 50-30-20 project, she said, meaning 20 percent of the apartments will be reserved for low-income tenants, 30 percent for middle-income tenants and the rest for market-rate renters. She said Forest City Ratner hopes to begin construction this year.
NoLandGrab: Like Norman Oder (see below), we'll believe it when we see it.
Related coverage...
Atlantic Yards Report, First AY residential building to break ground this year?
The headline in the Real Deal is First residential building at AY to break ground this year, but the actual quote is this, from Forest City Ratner executive MaryAnne Gilmartin:
She said Forest City Ratner hopes to begin construction this year.
A year ago, however, another executive said they planned to break ground in the fourth quarter of 2010.
In other words, headlines shouldn't be definitive.
NY Observer, SHoP Scores First Apartment Building at Atlantic Yards
Back in September, when Ratner and SHoP principal Gregg Pasquarelli unveiled new designs for the public plaza at the foot of the Barclays Center arena, the architect said he would love to design some of the project's buildings, though his primary concern was executing the masterplan. "SHoP's goal is to make sure it's a beautiful and cohesive whole," he said at the time.
Well, it looks like Pasquarelli will be getting his wish after all, as The Observer has learned the firm has been tapped to design B2, the first apartment building planned for the site, along Dean Street on the southeast corner of the arena.
Curbed, First Atlantic Yards Apartment Building Breaking Ground This Year?
The Real Deal has a great roundup of all the tidbits of news from yesterday's Brooklyn Real Estate Roundtable, an always-sunny confab of developers and others with a stake in the borough's bricks and mortar. The headline is the update from a Forest City Ratner exec on the progress at Atlantic Yards, where the first apartment building (of the 16 that are still somehow planned) is expected to break ground this year.
Brooklyn Daily Eagle, Historical Society Receives $93K From Brooklyn Real Estate Roundtable Series
Besides telling attendees about seeing the scoreboard from the subway exit at the new arena, MaryAnne Gilmartin, executive vice president of commercial development at Forest City Ratner, said people will also be able to see the arena’s practice facility from the plaza.
“We are making extraordinary progress on the Barclays Center,” she said. “The steel is rising and the decking is visible. We will be watching basketball games in the 2012-13 season.”
NLG: Yeah, but will be watching them in Newark?
Posted by eric at February 10, 2011 10:10 AM