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December 4, 2009
Atlantic Yards Report: Midnight Madness
Norman Oder got an early Christmas present from Goldman Sachs: the 772-page Barclays Center Arena Preliminary Official Statement.
At entrance to the arena, "Urban Room" becomes "urban plaza" becomes (interim) "Urban Experience"
Once there was supposed to be a soaring Urban Room serving as entrance to the Atlantic Yards arena. With the absence of Building 1, in which the Urban Room was to be incorporated, Forest City Ratner representatives started talking about an "urban plaza."
No more. Now it's an "Urban Experience," not to be confused--presumably--with an actual urban experience. It's another one for the Atlantic Yards Lexicon.
NoLandGrab: [Sound of NLG barfing].
Nah, the Nets won't play in Brooklyn in the 2011-12 season
I wrote earlier today that the arena might open in April 2012, giving the Nets just a few games in Brooklyn.
Nah.
A market study attached to the Barclays Center Arena Preliminary Official Statement (prepared by Goldman Sachs) states, "It is assumed that the arena will open in May of 2012. As such, the year ending June 30, 2012 only reflects two months of operations."
And there is no sum under the column "Guaranteed Rental Payments (Nets' Ticket Sales)" for the 2012 fiscal year. (See p. 553 of the PDF.)
NLG: We wonder if Oder made it to page 553 in the time it took us to post this entry.
Posted by eric at December 4, 2009 12:09 AM