Book your ticket to happiness with Sun Express Airlines. This is I'm John Bachelor. It's called Atlantic Yards. It is Brooklyn and I welcome a

Brooklynite lifetime. Harry Siegel, senior editor at the City, an online

journal I recommend, as well as the comments at the New, online journal I recommend,

as well as the Commence at the New York Daily News.

The Atlantic Yards is available for development.

Why?

Because Greenland USA, a Shanghai-based developer, turned away and defaulted on its loans.

And therefore I read in your esteemed reporting newspaper the city the auction of Atlantic

Guard sites end dangers hard-fought housing promises.

So I got confused immediately.

This all looks like good news, Harry, is it that the Atlantic Yards is available for development for Brooklyn.

Good evening to you.

Good evening, John.

So this was supposed to get developed over this

rail yard which is complicated and expensive 20 years ago in effect and by the time that the

nets arena Barclays went out and what happened was the development part of this

got delayed. The original developer sold it to a Shanghai

based developer that was funding their project with E.B.5 visas where people are basically

paying to have American visas by putting into

development projects.

That money dried up in part because of the pandemic and the result is that the developer now is exiting the project is defaulted on their loans and there will be an auction on those loans.

So if somebody buys them and actually starts developing,

...