Related Companies, Fortress Investment Group, and U.S. Immigration Fund (USIF) will jointly develop the remaining portions of Brooklyn’s Pacific Park after foreclosing on Greenland USA, which owes $300 million. This joint venture follows halted construction and a missed May 2025 deadline for 876 affordable units, which could have led to fines exceeding $12 million. The project, initially approved in 2006 and delayed multiple times, is now expected to be completed by 2035. The development will include 3,200 residential units and a retail component, requiring construction over the active Vanderbilt Yard.
Related Companies, Fortress Investment Group, and U.S. Immigration Fund
