-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KDIG/DTCh4gSbR0VruBqmmLTZu0O9vwC2rbyhoaDjdkCRBWqYghIOLwCV+R2gXes
 QvdazOsgNeRi4QDsotKjmg==

<SEC-DOCUMENT>0000930413-09-001912.txt : 20090526
<SEC-HEADER>0000930413-09-001912.hdr.sgml : 20090525
<ACCEPTANCE-DATETIME>20090407160516
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000930413-09-001912
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090407

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACADIA REALTY TRUST
		CENTRAL INDEX KEY:			0000899629
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				232715194
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1311 MAMARONECK AVENUE
		STREET 2:		SUITE 260
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10605
		BUSINESS PHONE:		914-288-8100

	MAIL ADDRESS:	
		STREET 1:		1311 MAMARONECK AVENUE
		STREET 2:		SUITE 260
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10605

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARK CENTERS TRUST
		DATE OF NAME CHANGE:	19930329
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c57213_corresp.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<br>


<P align="center">
<FONT face="serif">[Letterhead of Paul, Hastings, Janofsky &amp; Walker LLP]</FONT></P>
<P align="left">&nbsp;</P>
<P align="left">&nbsp;</P>
<P align="left"><FONT face="serif"><br>
</FONT></P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td><font face="serif">April 7, 2009</font></td>
    <td align="right"><font face="serif">41193.00082</font></td>
  </tr>
</table>
<P align="left">
<B><FONT face="serif">VIA EDGAR</FONT></B></P>
<P align="left">
<FONT face="serif"><br>
Mr. Tom Kluck </FONT><BR>
<FONT face="serif">Division of Corporation Finance </FONT><BR>
<FONT face="serif">United States Securities and Exchange Commission</FONT><BR>
<FONT face="serif">100 F. Street, NE </FONT><BR>
<FONT face="serif">Washington, D.C. 20549 </FONT></P>
<P align="left">&nbsp;</P>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="3%" valign="top" nowrap><font face="serif">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
    <td width="97%" valign="top" nowrap><u><font face="serif">Acadia Realty Trust</font></u><br>
      <u><font face="serif">Registration Statement
      on Form S-3</font></u><br>
      <u><font face="serif">Filed on March 12,
      2009</font></u><br>
      <u><font face="serif">(File No. 333-157886)</font></u></td>
  </tr>
</table>
<P align="left">
<FONT face="serif">Dear Mr. Kluck:</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">On behalf of our client, Acadia Realty Trust (the &#147;Registrant&#148;), we are transmitting this letter in response to the comments received from the staff of the Division of Corporation Finance
(the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) conveyed by letter dated March 30, 2009, relating to the above-referenced registration statement (the &#147;Registration Statement&#148;).</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">We have incorporated the Commission&#146;s comments into this response letter in italics and have provided the Registrant&#146;s responses below each comment.</FONT></P>
<P align="left">
<I><U><FONT face="serif">General</FONT></U></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">1. </FONT><I><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We note that you incorporate by reference your fiscal year ended December 31, 2008 Form 10-K that was filed on February 27, 2009. We further note that your Form 10-K
incorporates Part III information by reference in your definitive proxy statement, which has not yet been filed. Please amend your Form 10-K to include the Part III information or file your definitive proxy statement. Please refer to Securities Act
Forms Compliance and Disclosure Interpretation Question 123.01, which can be found on our website, for guidance.</FONT></I><FONT face="serif"> </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif"> The Registrant will file its definitive proxy statement with the Commission prior to the time it requests the Registration Statement be declared effective by the Staff. The information that is required by Part III of Form 10-K
will be included in the definitive proxy statement that will be filed by the Registrant. Accordingly, the Registration Statement will contain a complete Section 10(a) prospectus in accordance with Securities </FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<br>


<P align="left">
<FONT face="serif">Mr. Tom Kluck</FONT><BR>
<FONT face="serif">April 7, 2009 </FONT><BR>
<FONT face="serif">Page 2 </FONT></P>
<P align="left">
<FONT face="serif"><br>
Act Forms Compliance and Disclosure Interpretation Question 123.01 prior to the time it is declared effective by the Staff. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT face="serif">2. We note your disclosure in the &#147;Calculation of Registration Fee&#148; section that you are relying upon Rule 415(a)(6) of Regulation C for this offering. Please explain to us why you
believe that you are eligible to rely upon Rule 415(a)(6). Please refer to Securities Act Rules, Compliance and Disclosure Interpretation Questions 198.03 and 198.06. </FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">In accordance with Securities Act Forms Compliance and Disclosure Interpretation Question 198.06, the Registrant believes the following two requirements have been met as noted below: </FONT></P>
<UL>
<LI>
<P align="left"><FONT face="serif">Prior to filing the Form 10-K, the issuer must file a post-effective amendment</FONT> <FONT face="serif">to the automatic shelf registration statement (on EDGAR submission type</FONT> <FONT face="serif">POSASR) to
register a specific amount of securities and to pay the associated</FONT> <FONT face="serif">filing fee.</FONT></P></LI>
</UL>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">The Registrant received oral guidance from the Staff stating that the Registrant did not need to file a post-effective amendment prior to filing its Form 10-K but could still avail itself of the
provisions of Rule 415(a)(6) upon the loss of well-known seasoned issuer status, if the Registrant&#146;s automatic shelf registration statement contained all the information required to be included on Form S-3 (i.e. (i) did not omit information
pursuant to Rule 430B; (ii) paid the filing fee up front; and (iii) set forth the amount of securities to be offered). The Registrant&#146;s automatic shelf registration statement (File No. 333-139950), when filed, contained all the information
required to be included on Form S-3, paid the full filing fee at the time of filing, and set forth the amount of securities to be offered.</FONT></P>
<UL>
<LI>
<P align="left"><FONT face="serif">The prospectus included in the post-effective amendment to the automatic</FONT> <FONT face="serif">shelf registration statement may not omit information in reliance on</FONT> <FONT face="serif">provisions of Rule
430B that are available only to automatic shelf registration</FONT> <FONT face="serif">statements and instead must contain all information required to be included in</FONT> <FONT face="serif">a Form S-3 filed in reliance on General Instruction I.B.1
or I.B.2.</FONT></P></LI>
</UL>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">As stated above, the Registrant&#146;s automatic shelf registration statement included all the information required to be included on Form S-3 and did not omit information in reliance on Rule 430B,
and accordingly, was not required to file a post-effective amendment prior to filing its Form 10-K. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Further in accordance with Securities Act Forms Compliance and Disclosure Interpretation Question 198.06, the Registrant promptly filed the Registration Statement after filing its Form 10-K.
</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<br>


<P align="left">
<FONT face="serif">Mr. Tom Kluck</FONT><BR>
<FONT face="serif">April 7, 2009 </FONT><BR>
<FONT face="serif">Page 3 </FONT></P>
<P align="left">
<I><U><FONT face="serif"><br>
Part II - Information No Required In Prospectus. page II-1</FONT></U></I></P>
<P align="left">
<I><U><FONT face="serif">Item 16. Exhibits. page II-2</FONT></U></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><FONT face="serif">3. Please file the statement of eligibility of trustee as required by Item 601(b)(25) of Regulation S-K. Please see the Trust Indenture Q&amp;A and question 220.01 on our website,
http://www.sec.gov/divisions/corpfin/guidance/tiainterp.htm, for guidance. </FONT></I></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">In accordance with our discussions with the Staff, the Registrant has elected to designate a trustee on a delayed basis pursuant to Section 305(b)(2) of the Trust Indenture Act of 1939. Accordingly,
it will file any required statement of eligibility of trustee on Schedule T-1 on a delayed basis under the electronic form type &#147;305B2.&#148; In response to the Staff&#146;s comments, the Registrant has revised the disclosure on page II-3 of
the pre-effective amendment to the Registration Statement filed concurrently with this letter.</FONT></P>
<P align="center">
<FONT face="serif">* * *</FONT><FONT size=2 face="serif"> </FONT><FONT face="serif"> </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">If you have any questions, please do not hesitate to contact me at (212) 318-6859.</FONT></P>
<P align="left">
<FONT face="serif">Sincerely,</FONT></P>
<P align="left">
<FONT face="serif">/s/ Mark Schonberger </FONT><BR>
<FONT face="serif">Mark Schonberger </FONT><BR>
<FONT face="serif">for PAUL, HASTINGS, JANOFSKY &amp; WALKER LLP</FONT></P>
<P align="left">
<FONT face="serif">Enclosure</FONT></P>
<TABLE width="510" border=0 cellpadding=0 cellspacing=0>
<TR>
	<TD nowrap valign=top>
<P align="left"><FONT face="serif">cc:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD>
	<TD width=100% valign="top">
<P align="left"><FONT face="serif">Erin E. Martin, Esq. <br>
</FONT></P>	</TD>
</TR>
<TR><TD>&nbsp;</TD>
  <TD><font face="serif">Robert Masters, Esq.</font></TD>
</TR></TABLE>

<p>&nbsp;</p>
<HR noshade align="center" width="100%" size=4>


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
