« No Rendering: Does Ratner Plan on Building Phase 2 of Atlantic Yards? | Main | “Gaming the Tax Code: Public Subsidies, Private Profits, and Big League Sports in New York" »

September 9, 2008

"BREAKING": Nets arena behind schedule

Norman "the Mad Overkiller" Oder has spent the past couple o' years telling anyone who is listening that the arena is behind schedule.

Even weirder still, by the time that Bruce Ratner gets around to fessing up, the schedule usually has already slipped even further, instantly casting doubt on anything Ratner's henchmen have to say.

This week, reporters Erik Enquist and Matthew Sollars at Crain's NY Business catch on [full article posted by Develop Don't Destroy Brooklyn]:

Forest City Ratner still insists that it can break ground on its Brooklyn basketball arena this year. Reality says otherwise. It will be at least 2009 before state courts stomp out two lawsuits challenging the project's environmental impact statement and use of eminent domain.
Financing projects is "almost impossible" while litigation is pending, Forest City Chief Executive Bruce Ratner has said.

Norman Oder skips the chance to say, "I told you so," and instead offers a comparison with recent coverage in The Daily News:

Atlantic Yards Report, Crain's finds FCR's projections out of line with reality

By contrast, the Daily News last month reported Forest City Ratner CEO Bruce Ratner's statement that the arena would open in 2011, with groundbreaking next year, then doubled back to give the last word to other company representatives who claimed it would open earlier and groundbreaking would occur this fall.

Posted by lumi at September 9, 2008 4:36 AM