« Atlantic Yards (Brooklyn Nets Arena) May Be 'Dead' According to Opponents | Main | Lupica Has "A Quick Question for Caring Bruce Ratner" »
January 11, 2009
Was the billion-dollar arena a feint? And why isn't Gehry talking?
Atlantic Yards Report
So, why did the cost of the Atlantic Yards arena escalate from $637.2 million in December 2006 to $950 million in March 2008?Remember, last March, the $950 million figure appeared in the New York Times without explanation. The number, I wrote last December 2, just didn't compute, given that there was no similar announced escalation in the cost of the project as a whole.
Was it simply a consequence of rising construction costs and expensive Frank Gehry details aimed to sell suites and sponsorships? Was it part of an effort to gain even more tax-exempt bonds? Or was there a plan to announce an overambitious arena, with the intention of later cutting back?
Posted by amy at January 11, 2009 10:25 AM