Broken Promise: Developer facing hefty fines for unfinished affordable housing
The housing was supposed to be built over a Long Island Rail Road yard that lies between Atlantic Avenue and Pacific Street near Barclay's Center.
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Housing, hoops and jobs, that's how the Atlantic Yards/Pacific Park Project was sold to the community.
While the project did bring Barclay's Center and some jobs, two decades since it's inception, only 55% of the 2,500 affordable housing unites promised, have been built.
Now, the developer is facing hefty fines for the unfinished affordable housing.
"So part of it was a lot of empty promises, a lot of fantastic thinking," said Assemblymember Jo Anne Simon.
Simon has been advocating for affordable housing and community green space to be included in the project since before winning her seat in Albany.
The housing was supposed to be built over a Long Island Rail Road yard that lies between Atlantic Avenue and Pacific Street near Barclay's Center.
That is where six residential towers were supposed to be built that would include 876 affordable units.
The project developer, Greenland USA, foreclosed on its right to build the remaining housing.
"Somebody would have to buy that debt and that has not happened yet," said Simon.
The deadline to complete the remaining affordable housing is May 31.
The developer could face thousands of dollars a day in fines for each apartment not built.
"We're a month away from a deadline that can't be met," Michelle de la Uz, of the Fifth Avenue Committee. "And there are liquidated damages in a contract that must be paid."
Empire State Development, the state entity overseeing the project said it is committed to the successful completion of the project and said in a statement:
"Building the remaining housing, including affordable units, remains a top priority and ESD will continue to keep the community's best interests at the forefront as we push towards the completion of this project."
