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December 11, 2010
Prospect Heights: Slope Appeal With Edge
The Wall Street Journal
By Joseph De Avila
This overview of Prospect Heights tries to gloss over the disaster of placing an arena near a residential area.
The character of the neighborhood is in for a big change. The controversial Atlantic Yards project, being built by developer Forest City Ratner, has begun construction. The Barclays Center, the sports arena that will become home for the Nets, is slated for completion in 2012. Forest City Ratner also has rights to build 16 buildings of commercial space and some 6,000 apartments.
The construction is causing headaches at Atlantic and Flatbush avenues, already one of the busiest intersections in Brooklyn, said Terry Robison of Prudential Elliman, who lives in Prospect Heights. But once the construction is finished, he thinks having an arena where residents can walk to concerts and basketball games could have positive impacts on home values.
"Getting used to that will take some adjustment," Mr. Robison said. But "prime Prospect Heights is close enough yet far enough away that it won't have a detrimental effect."
NoLandGrab: Yes, all of the tonier neighborhoods are clamoring to have an arena built near them.
Posted by steve at December 11, 2010 9:17 AM