Brooklyn's Barclays Center Not Living Up To Expectations As First Thought - The Juicy Online

Brooklyn's Barclays Center Not Living Up To Expectations As First Thought

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At first, when it was posposed to the residents of Brooklyn, the Barclays Center, home of the Brooklyn Nets, was supposed to bring jobs, hope, and a new look to the Atlantic Yards section of the city. Now were learning that the promises made by developers of the project may have been a LIES!

Rapper Jay Z brought the new arena and the basketball team to Brooklyn, but the rapper "may not" have known the outcome of the project years later.

Cause of Action founder Dan Epstein is EXPOSING the project, which he claims has fallen under "Political Profiting." 

"The Barclays Center was always part of a bigger plan at Atlantic Yards in exchange for $250 million dollars in taxpayer money," Epstein explained. 
According to insiders, 10,000 permanent jobs were supposed to be created with the building of the arena. Also, 2,000 units of affordable housing were supposed to be created in the area. 

Forest City Ratner, who built the arena, has only managed to bring 2,000 [mostly] part-time jobs to the residents of Brooklyn in the eight-years redeveloping the area in Atlantic Yards for the project. Also, the 2,000 units of affordable housing haven't even become a reality for residents, who were promised the idea years ago. 

Spokesperson for Forest City Ratner Joe DePiasco said, "We intend to meet all of our commitments, as we've been doing all along." 

The Juicy Online has been digging around for more information, and we came across this report which shows that Forest City Ratner may have bailed on their commitments towards the project, as it's being revealed that the company has sold 70% of Atlantic Yards project to a Chinese government-owned property developer, Greenland Holdings Group. The deal is, the largest of its kind for a Chinese company buying real estate in the United States, would give the Greenland Holdings Group 15 towers in the Atlantic Yards project. 

Along with the sell, Forest City Ratner will continue receiving developing fees and manage the project, helping it's risk with the project. 

The pro of the sell is that Forest City Ratner can begin to accelerate construction, thus responding to the criticism for the slow delivery of promised affordable housing.

Forest City Ratner has now extended its deadline of bringing affordable housing to the area from 10 years to now 25 YEARS, which would allow them to proclaim they're "building faster." 


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