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September 29, 2008
Atlantic Yards Groundbreaking on Pause for 6 Months
Eminent domain lawsuit allowed to go forward
WNYC Radio
by Matthew Schuerman
While the plaintiffs lost a similar case in federal court, the state proceedings will delay the project right as a recession is threatening.
The project's developer, Forest City Ratner, had announced that a groundbreaking on the Barclays Center basketball arena would take place by the end of this year.
But a ground can't be broken before the project secures financing, and the financing won't come before all litigation is resolved. In an official statement today, the developer, Forest City Ratner, says it is confident it will build the arena.
Posted by eric at September 29, 2008 4:39 PM