Forest City Enterprises and Greenland Holdings Group, a Chinese state-owned developer, have completed an agreement for a joint-venture to develop Atlantic Yards, the companies announced today.
The two parties had previously announced a preliminary deal in October under which Greenland would acquire a 70-percent stake in the Atlantic Yards project from Forest City. Expected to close in 2014, the joint venture includes phases one and two of the project, excluding the Barclays Center and the B2 modular housing tower.