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March 21, 2008
FCR Foes See Tide Turning in Yards Fight
Brooklyn Downtown Star
By Robin Gordon-Leavitt
A changing of the guard in Albany combined with a sputtering economy might mean trouble for Forest City Ratner's Atlantic Yards project. Opponents of the project discussed the status of the ongoing battle at the United Methodist Church Thursday night.
"The project that was proposed in '03 is never going to happen; nothing like it is going to happen," said Daniel Goldstein, spokesman for Develop Don't Destroy Brooklyn (DDDB), who led the meeting.
Problems in the credit and real estate markets, and soaring construction costs have delayed the project already. Construction has not yet begun on the Barclays Center, the sports arena at the center of the project, and one of the plan's most controversial elements. The 2006 projected cost of the arena, $640 million, is now seen as unrealistic, and the project might have difficulty getting more government funding with no end to the economic slowdown in sight.
Posted by lumi at March 21, 2008 5:03 AM