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April 12, 2011

Consultant: arena remains ahead of schedule, but substantial completion date nudged back, final completion date pushed back

Atlantic Yards Report

According the 4/4/11 Site Observation Report on the Barclays Center arena construction, produced by Merritt & Harris, consultants to the real estate lending and investment community, the arena is still ahead of schedule.

Indeed, as the graphic indicates, actual spending (white dot) exceeds projected spending (black dot), though it's still early days.

Falling behind?

But other data indicate that the arena is falling slightly behind earlier predictions:

  • the substantial completion date has been nudged back two weeks from 8/12/12 to 8/27/12
  • a final completion date, involving punch list work and subcontractor close-outs, has been pushed back three-and-a-half months, from 2/28/13 to 6/14/13.

None of this jeopardizes the announced arena grand opening date of 9/28/12, a month after the substantial completion date. However, if additional glitches crop up, it may get tougher for arena promoters to fulfill this plan, as stated in a 4/5/11 press release:

Prior to the official Grand Opening on September 28, the Barclays Center plans to use the first several weeks of September 2012 to host public events and tours to welcome and introduce the Brooklyn community to its new building.

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Posted by eric at April 12, 2011 7:31 AM