As expected, Chinese developer Greenland Holding Group Co. is well on its way to owning 70 percent of Atlantic Yards. Greenland and Forest City Ratner announced Monday that both parties have signed a "definitive agreement," meaning that the deal next goes to both governments for approval. The stake in the 15-tower apartment project doesn't include the finished Barclays or the one tower on which construction has already started, modular maven B2. Greenland's chairman has said he expects to complete the project in eight years, so either he's probably hugely ambitious and/or clueless about the pace of New York City construction. Welcome aboard. [Metropolis; previously]
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