Controversies

Acadia Realty Trust Speaks Out After Verbal Assault of its City Point Development in Brooklyn

City Point Rendering

Developers of the City Point project in Brooklyn want to set the record straight following a unionized protest and a fiery letter from the president of the Building & Construction Trades Council of New York claiming that the project exploits the community and burns taxpayer dollars.

In addition, some industry experts agree that less union work is simply a wave of the future that began decades ago.

While a spokesperson for developer Acadia Realty Trust expressed reluctance to get into a full-on spat over the issue, he defended his firm’s stance on the project, countering critics who said the project abuses taxpayer dollars.  He claimed that the project benefits from a single government subsidy — and that it is essential for the affordable housing component.

“City Point will generate thousands of jobs and enhance Downtown Brooklyn’s quality of life,” said Tom Montvel-Cohen, with Acadia Realty Trust.  “We are committed to maximizing local and minority contracting and employment as we create a LEED-certified development with the affordable housing, retail and entertainment options that the neighborhood well deserves.” Read More