Evaluation of the Atlantic Yard/Pacific Park Project

Evaluation of the Atlantic Yard/Pacific Park Project Student’s Name Institutional Affiliation Evaluation of the Atlantic Yard/Pacific Park Project Introduction Pacific Park is a mixed-use residential and commercial project that consists of high-rise buildings, a basketball arena and a mega park. The major part of this project is the Barclays Center sports arena which was opened in the year 2012. The project was initially named as Atlantic yard, but the developer renamed it as part of its rebranding. Rebranding of the developer has been controversial as many see this as an attempt to avoid the taint due to some inefficiencies in this project. The Empire State Development Corporation was the body in charge of the development of the project until its completion. As of 2018, the projects four houses out of the total fifteen had been opened. The project plans to include the modular apartments which are expected to be the tallest in the world after completion. Community Benefit Agreement The developers of the Pacific park entered into a Community Benefits Agreement (CBA) to accelerate the approval for its constructions by the surrounding community. The agreement made between the developer of the mega project and the residents promised to provide low-income housing for the low-income earners and middle-income earners. The project developers also stated that they would construct the houses which would be charged at the market rates for those who earn above the median income in America (Pacific Park Brooklyn Fact Sheet. 2017). Unemployment was also another issue for Americans in New York, and therefore the Pacific park developers also promised to give employment opportunities for the resident by recruiting and training them for the construction and related jobs. Provision of social amenities such as hospitals and a free open park was another benefit that was to be enjoyed by the local for them to allow the developer to initiate the project. The problem is that most of these promises that were made to authorize the construction of the Mega Park are yet to be enjoyed by the residents. Examples include the provision of cheap housing which is yet to be achieved. Other things that have not been achieved by the Pacific park developer include the provision of the social amenities and the free park which were among the benefits listed in the CBA. To solve this problem, the developer should provide cheap houses for low-income earners. Another way that the developer could perform in a better way is to give equal job opportunities for the residents who are jobless so that they can feel like part of the project. A Shifting Timetable In 2003, the developer of the Pacific park promised the people of Brooklyn that they would already be enjoying affordable housing and other social facilities completed by 2025. So far the developer has only managed to build less than a quarter of the required housing units raising the question whether he will manage to complete the remaining units by the year 2025 (Bagli, 2009). Residents questioned the Atlantic Yards which was the original construction company about this issue, but the company only managed to rebrand its name to Pacific park in the year 2015 (Confessore & Newman, 2017). The company has also resisted explain...