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March 19, 2008

Second look: the 50% prediction, ESDC dysfunction, and Spitzer's harangue

Atlantic Yards Report

The bookmakers at Crain's NY Business give Atlantic Yards a 50% chance of being built, but Norman Oder isn't taking those odds:

First, I think that Atlantic Yards has a much less than 50% chance of being built as proposed, and in the announced ten-year timetable.
However, I'd bet that the Atlantic Yards arena has a greater than 50% chance of being built.
While legal and financing challenges have delayed the project, the developer and state have not yet lost in court. Forest City Ratner and parent Forest City Enterprises have a reputation for being "very disciplined" in moving forward. So it could be that Brooklyn (actually Forest City Ratner) "gets" an arena "from" Barclays long before many or any of the other promised project benefits surface.


Posted by lumi at March 19, 2008 4:22 AM