No Land Grab

If only the New Jersey Nets’ offense ran as efficiently as Bruce Ratner’s push to bring the franchise to Downtown Brooklyn.

While the Nets continue to stumble out of playoff contention in the Eastern Conference, Ratner’s plan to bring big-time pro sports back to our fair borough for the first time since the Dodgers left town in 1957 keeps gaining momentum.

Last week, the real estate magnate signed his memo of understanding with the city and state, outlining his ambitious vision for a $550 million arena in the heart of Downtown, not to mention 17 other commercial and residential buildings, two million square feet of commercial space and over 4,000 mixed-housing units – all of which will cost about $2.5 billion.

All this just one week after Ratner backpedaled on his initial plan to have the Nets here by 2007. Now, the Cleveland native admits 2008 will be a more likely landing date for the Nets in Brooklyn. But what’s another year when you’ve waited almost half a century without a major pro sports franchise.

“It has been a truly extraordinary year,” said Ratner.

“Only a year ago, we unveiled (architect) Frank Gehry’s master plan and won our bid for the Nets. Today, with the help of the state and the city – and countless others who are working hard to bring the team and jobs and housing to Brooklyn – we are one step closer to creating a remarkable development that will hopefully make a proud borough and city even prouder.”

Under the MOU, the state and city will each contribute $100 million in capital contributions to fund site preparation and public infrastructure improvements on and around the arena site, including streets, sidewalks, utility relocations, environmental remediation, open space and public parking.

Forest City Ratner Companies (FCRC) has agreed to relocate and reconfigure the Long Island Rail Road Yard. FCRC will also build and maintain the overbuild platform. The rail yard will remain operable through all phases of construction.

Ratner continued his push just yesterday, dropping $1 million into the Carver Federal Savings Bank at the Atlantic Terminal Branch – the future home of the Nets.

“It is important to support local businesses through sizable community reinvestment,” said Ratner.

Especially when you’re trying to get some good p.r. in the neighborhood.

Unfortunately for Ratner, he can’t wheel and deal the Nets back into the Eastern Conference playoff race.

The three-time defending Atlantic Division champions are in serious danger of sitting out the postseason for the first time since point guard Jason Kidd’s arrival in 2001, putting a major blemish on Ratner’s first full season as owner.

Entering last night’s home game against Chicago, New Jersey had a 3-4 record in March, and was 3 ½ games behind Orlando for the eighth and final playoff spot in the East.

The Nets had lost three of four before a rousing 98-82 victory at Orlando on Sunday again raised hopes that the team may make a late run for the playoffs.

“Hopefully, we can continue to build on this,” said Nets coach Lawrence Frank.

His boss is thinking the same thing about a valuable stretch of real estate in Downtown Brooklyn.