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October 8, 2008
As Delays Mount, 2012 Looks Like the Best-Case Bet for the Atlantic Yards Arena
Pending lawsuits and questions about tax-exempt bonds cast cloud over Ratner’s plans
Brooklyn Downtown Star
by Norman Oder
Atlantic Yards Report's Norman Oder outlines recent developments (or, shall we say, lack of developments) with Atlantic Yards, which won't be news to you if you're a regular reader of his blog, but are newsworthy nonetheless.
Last week, we learned that, because a state appeals court wouldn’t dismiss a pending eminent domain lawsuit challenging Atlantic Yards, the announced groundbreaking for the Brooklyn arena might be delayed at least six months. Most news outlets then concluded that the planned Barclays Center could open by 2011, a year later than the most recently announced official opening date of 2010. However, the best-case arena opening date is probably 2012, nearly nine years after the project was unveiled and six years after the first—and clearly overambitious—announced arena opening date.
NoLandGrab: "Overambitious?" Yesterday, Nets' CEO Brett Yormark told Bloomberg News that the Nets always look to "overdeliver." Umm, wait a minute....
Posted by eric at October 8, 2008 4:24 PM