Brooklyn, N.Y. — Brookfield Development announced Thursday that it has awarded a $500 million development contract to a team of developer and engineering firms to design and build six residential projects in the borough.
Brookfield has awarded $5.3 billion in funding to developers since 2008, and is in the process of buying the property for $5 billion.
The development of the Brooklyn Yards, which will eventually include more than 1,100 units of affordable housing, was expected to start this year, but construction could be delayed.
Brookland also announced that it will purchase land in Brooklyn Heights for a future development of up to 500 units of housing, as well as other infrastructure.
The company plans to construct and operate a new high-speed train in the district, which was originally proposed by Brooklyn Park.
Brooklyn Park’s redevelopment plan included the construction of new affordable housing and a retail corridor that would connect to the subway.