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Latest Barclays Center tenant - A look into the future

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Curbed NY

Walking along Flatbush Avenue on Monday night, you might want to take a look through the window at the Barclays Center's latest tenant, the sales office for 550 Vanderbilt, a 23-story building going up a few blocks away.  More interesting is what you can see inside: an architectural model of Pacific Park, "Brooklyn's New Neighborhood."

Pacific Park is the new name for Atlantic Yards, the overall 22-acre mini-city embracing the arena. Barclays, as Curbed NY (a sister publication of NetsDaily) reports, is the only element of the project that's been completed.

Projects completed (so far only the arena) and those under construction (at least four residential towers) are shown in color, matching their architectural renderings. Those whose architecture has yet to be revealed are shown as "massing models," basic representations of how tall the buildings will be. The model does not include any representation of the 60-story office tower initially planned for the front of Barclays or the buildings planned for where the Modell's and P.C. Ricards now stand.

Under an agreement with the state of New York, the entire project has to be completed by 2025, a 10-year buildout ,but this week, Bruce Ratner's partner in the project, Greenland Group, a Chinese company, said they hope to finish in eight years.

The project is likely to have divided ownership, when complete. The joint venture between Forest City Ratner and Greenland will own all but one tower, the troubled 33-story prefab building at 461 Dean Street, along the arena's southern edge.  As Mikhail Prokhorov told Russian media this week, he is in talks to buy Ratner's majority stake in Barclays Center. He currently owns 45 percent and is expected to be sole owner once a deal is struck.