Forest City Expedites Atlantic Yards Affordable Housing
Law360, New York (June 27, 2014, 2:08 PM EDT) -- Forest City Ratner Cos. LLC reached a deal Friday with the state and city of New York, as well as a group of Brooklyn residents concerned about its massive Atlantic Yards development, to build nearly 600 affordable housing units at the site over the next year — a decade ahead of schedule.
The agreement comes after years of negotiations and litigation over the 22-acre project, its construction timeline, its environmental impact and whether it included enough affordable housing.
While many issues still remain, the deal reached Friday will jump-start the affordable housing component of the controversial development, which had previously been...
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