Two new developers, LCOR and CIRRUS Workforce Housing, have stepped in to revive the long-stalled Atlantic Yards project near the Barclays Center, promising to bring long-awaited affordable housing to Downtown Brooklyn.

But after more than two decades of delays, many residents remain skeptical, following a New York state decision not to levy financial fines against the original developer who missed the May 2025 deadline to have housing built.

This week marked the first in a series of public hearings where developers unveiled updated plans for the site, including new housing units built directly over the rail yard.

The project, originally envisioned to open alongside the Barclays Center, has faced repeated setbacks since its inception.

Community activists say past promises have gone unfulfilled.

“I see a place where developers got a lot of entitlements but made good on very few promises,” said Gib Veconi, a Brooklyn Heights activist.

Developers argue that to make the project viable now, they need to add more buildings, increase density and raise rents. Affordable units could cost as much as $4,000 a month, while requiring higher income thresholds for eligibility at 130% of the Area Median Income.

“A single person would have to make $147,000 to qualify,” Veconi said. “That doesn’t make sense to me, and it’s not what people here consider affordable housing.”

Veconi says he wants the site to mirror that of the Gowanus Rezoning, where affordable units started at $1,800 and were not delayed for two decades.

Local leaders acknowledge that the new developer has shown a willingness to engage with the community.

“They want to do this project,” said Assemblywoman Jo Anne Simon, adding, "The original developers wanted the Barclays Center, but they were happy enough to walk away from the project with no houses built."

She credits a 2016 lawsuit with getting at least some units of housing built under the initial deal before the developer defaulted.

She tells News 12 the new team is acting in good faith, but needs to listen to community feedback, not just hear it, when it comes to more affordable units.

“They’ve kind of forgotten that part of what was already promised, bargained for and committed to,” Simon says.

Some residents argue the developer benefited from favorable terms when acquiring the project and should honor earlier commitments.

“The developer already got this whole project for a song,” said Brooklyn Heights resident Frampton Tolbert. “At least keep with what was negotiated.”

A report with all public feedback from the series of hearings will be published by February.