The Atlantic Yards Benefits Community Agreement

Atlantic Yards is bringing it to Brooklyn with more than 6,400 residential units, eight acres of open space, ground-floor retail space for local businesses, office space, and, of course, the Barclays Center – a sports and entertainment arena, the home to the NBA Nets franchise. Designed by the architect firm, Ellerbe Becket, the innovative Atlantic Yards development, located near the intersection of Flatbush and Atlantic Avenues in Brooklyn, means not only revitalization for the area, but also a host of exciting new possibilities for members of the local communities. Affordable housing, jobs, environmental sustainability, and business opportunities are just a few of the many initiatives negotiated by eight community groups and developer Forest City Ratner Companies (FCRC) in an historic, legally-binding Community Benefits Agreement – the first ever in New York State. A keynote of this landmark agreement, signed on June 27, 2005, is to ensure the participation of those traditionally excluded from the benefits of such development. 2,250 rental units affordable to low-moderate- and middle income New Yorkers, with rents set at approximately 30% of household income and 600 – 1000 affordable home ownership units to be built on or off the project site. 35% of jobs for construction workers will go to minority candidates, with an additional 10% set aside for women. A wealth of small business opportunities is provided by the following allotments 20% of construction contract dollars will go to minority owned and 10% to women owned business enterprises (M/WBEs) 20% of total contract dollars (including Arena concession activities) will go to M/WBEs and 15% of initial gross retail leasing will go to community – based businesses, with preference to M/WBE. The latest in green technology will be used to create environmentally sustainable buildings, with construction methods and materials certified by Leadership in Energy and Environmental Design (LEED). Along with the eight acres of new, publicly accessible open space, other community amenities, such as on-site health care and intergenerational centers will be created…