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February 19, 2007
Suits won't stop Atlantic Yards [But maybe slacker activists might?]
From Crain's Insider (link, subscription required):
Pending lawsuits against Atlantic Yards will not stop Forest City Ratner from proceeding with the Brooklyn project, a company source says. Architect Frank Gehry is revising his design to reflect the compromise that won state approval for the $4 billion mixed-use development. When he's finished, site work will begin.
Two businesses and 26 residents in the project's footprint have asked a federal court to declare that the eminent domain condemnations are unconstitutional.
NoLandGrab: Suits won't stop Ratner from TRYING to build Atlantic Yards by demolishing buildings and starting some preliminary work, but they could keep Ratner from finishing.
Develop Don't Destroy Brooklyn explains:
Here's the real deal. Forest City Ratner certainly can start prep work on the properties they own but they do not own the properties necessary to build the arena or to demap streets to build superblocks; this means that the project as we know it is not viable. That is because 13 of the property owners and tenants are in federal court to protect their rights against a use of eminent domain that they allege violates the United States Constitution.
Additionally Forest City Ratner does not own the rail yards (known as the Vanderbilt rail yards.) The signing of the contract selling the yards to Forest City Ratner (FCR) from the MTA is contingent on outstanding lawsuits like the eminent domain suit.
Posted by lumi at February 19, 2007 10:09 AM