Barclays Center & Pacific Park in 2020. Photo by CityLimitsJunction via WikiCommons

Pacific Park, Brooklyn’s years-long stalled megadevelopment, could finally move forward after securing new funding and a fresh development team. This week, Cirrus Real Estate and LCOR acquired the development rights to six Brooklyn rail yard sites at a foreclosure auction, after Greenland USA, the project’s former developer, defaulted on nearly $350 million in loans, as first reported by The Real Deal . The new developers have also contributed $12 million to an affordable housing fund, compensating for penalties that were not enforced against Greenland USA for failing to complete 876 affordable apartments by May 2025. The move represents a significant step forward for the project, which was launch

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