In the 2014 deal, Forest City Ratner vowed to expedite affordable housing for the 17-building development, under threat of a lawsuit from neighborhood groups that alleged the firm had broken faith with a community benefits pact signed nearly a decade earlier. — The City
After years of delays and false starts, construction on Brooklyn's Pacific Park development is finally moving along. But, the number of affordable housing units that the developer—Greenland Forest City Partners—agreed to construct through the project is falling short of expectations.
The agreement calls for a total of 2,250 units of affordable housing to be completed by mid-2025, but "so far, 782 have been completed. Another 94 will come online in a building now under construction, while approximately 200 units will be housed in two buildings set to rise early next year," minutes from a March presentation to the project’s oversight board show, according to The City.
"Additionally, 258 units at a tower that broke ground in April are slated to be affordable," writes The City. But some city officials don't think that the agreement can be met. "I don't think they'll meet the benchmark by 2025," one assemblymember told The City.
Greenland Forest City Partners has assured the public that they are "committed to meeting the affordable housing deadline." They don't have much of a choice—If the 2,250 units are not built in time, the developer could incur fines of $2,000 per apartment, per month until they are completed.
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