Brooklyn Housing Revival Unveils New Development Plan

BROOKLYN, NY— Developers behind the long-delayed effort to build housing over Brooklyn's Atlantic Yards rail tracks say they plan to break ground by 2028, reviving a project first approved more than two decades ago.

A new development team, led by Cirrus Workforce Housing and LCOR, presented plans Monday for about 5,600 apartments and condominiums across six residential towers, including an approximately 800-foot tower connected to a neighboring 570-foot building at Flatbush Avenue and Pacific Street.

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The proposal includes at least 1,242 apartments reserved for low- and middle-income renters, about 21 percent of the project.

Cirrus CEO Joseph McDonnell told members of the Atlantic Yards Community Development Corporation that construction on some affordable housing could begin by 2028, putting the first residents in those buildings by 2031.

"So fairly ambitious goals, but we actually stand in a place where we can do that given the work that has been done to date," McDonnell said.

The estimated $5 billion project depends largely on construction loans backed by union pension funds.

New York state expects to contribute about $700 million, including $175 million approved in the latest state budget, according to Empire State Development spokesperson Emily Mijatovic.

State funding will help build two platforms above the Vanderbilt Yard train tracks between Atlantic Avenue and Pacific Street.

McDonnell said previous developer Greenland Holdings invested about $1 billion to build part of the foundation for a future platform and secured permits that could accelerate construction.

"With Atlantic Yards, it's something that's evolved and it's fairly controversial," McDonnell said. "I think some people are actually borderline emotional about it, for good reason."

The latest proposal follows years of missed deadlines that left key promises unfinished.

Since the project debuted in 2003, developers completed about 3,200 apartments on surrounding blocks and built Barclays Center, including on property acquired through eminent domain. Nearly 900 affordable apartments promised under a legally binding agreement remain unbuilt.

The agreement required those homes to be completed by May 2025 or trigger millions of dollars in monthly penalties. Empire State Development waived those fines before the deadline, citing the risk of litigation while selecting a new development team to take over the remaining work.

The proposal marks the latest attempt to complete one of New York City's largest unfinished housing developments.

It also joins other major plans to build above active rail yards, including an expansion of Hudson Yards in Manhattan and a proposal to deck over Sunnyside Yards in Queens.