Funding woes may slow down Atlantic Yards residential tower

While Atlantic Yards developer Forest City Ratner has said it hopes to break ground this year on a long-delayed 400-unit residential tower slated for the Downtown Brooklyn project, a company spokesperson says that goal may be a ways off, according to the Brooklyn Paper. Forest City Ratner currently doesn’t have the funding lined up to start the project, the spokesperson said, and that may distort the developer’s timeline for the project. “We hope to release designs in late spring or early summer and still hope to break ground this year,” the spokesperson said. As previously reported, the developer has, however, picked an architect for the residential structure: SHoP Architects, the same company that designed the Barclays Center arena at the Atlantic Yards development. [Brooklyn Paper]