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FCR Agrees to Speed Up Atlantic Yards' Affordable Housing Timeline

NEW YORK CITY—Concerned about affordable housing, the state and city government both put pressure on the company, which now is moving up construction of that portion of the project by a decade.

By Rayna Katz | Updated on June 27, 2014

NEW YORK CITY—Under pressure from both the city and state governments, Forest City Ratner Cos. has agreed to dramatically expedite the timetable for the affordable housing portion of its Atlantic Yards project.

As part of a deal with Gov. Andrew Cuomo’s office, the new plan will shorten the completion timeframe to build 2,250 affordable apartments by ten years, from 2035 to 2025. Additionally, the agreement calls for the creation of a board—the Atlantic Yards Community Development Corp.—to provide input on development, housing, and community impact throughout the completion of the project.

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