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**Pacific Park Project Advances with New Co-Developers in Downtown Brooklyn**
U.S. Immigration Fund (USIF), a leading EB-5 Regional Center, has announced a significant development in the ongoing evolution of the Pacific Park project in Downtown Brooklyn. Formerly known as Atlantic Yards, the 22-acre mixed-use development welcomes a new team to help drive it forward.
Cirrus Real Estate Partners and LCOR have been selected as co-developers for the project, which first launched in 2003. This move has received approvals from both Empire State Development and the Metropolitan Transportation Authority.
“This represents a turning point not only for our investors but also for the project, building on New York City’s continued commitment to housing and transit connectivity,” said Nicholas Mastroianni, president of USIF.
USIF, alongside Fortress Investment Group, took a leading role in the project after previous developer Greenland USA, which had acquired a majority stake in the residential components from Forest City Ratner, defaulted on loans during the pandemic.
To date, the Barclays Center arena and several residential towers have been completed, with multiple additional towers slated for future construction. This latest development marks a renewed momentum for one of Brooklyn’s most ambitious redevelopment efforts.
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