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March 28, 2008
Atlantic Yards dead
The Brooklyn Paper
By Gersh Kuntzman
Bruce Ratner’s controversial Atlantic Yards project — which envisioned 16 skyscrapers, eight acres of open space, more than 2,250 units of below-market-rate housing, new top-of-the-line office space and a publicly financed basketball arena — now consists of little more than the arena and two scaled-back residential buildings, the developer told the New York Times last week.
In a bombshell front-page story last Friday, Ratner blamed the downturn in the economy for killing virtually all of his $4-billion mega-development.
As a result, many residents of Prospect Heights fear that areas already cleared by Ratner between Sixth and Vanderbilt avenues will remain empty for decades — in essence causing the urban blight that Ratner promised to fix.
The complete article runs down the shocking revelations from last Friday's Times article, explaining them in greater detail.
Posted by lumi at March 28, 2008 5:50 AM