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April 4, 2011
Nets' Brooklyn project reportedly could be scaled back
The Star-Ledger
by Colin Stephenson
This is like a bad game of telephone.
Sure, we don't expect that Bruce Ratner will ever build half the stuff he promised (or was it threatened?) to build for his Atlantic Yards project. But as Atlantic Yards Report pointed out today, this morning's New York Post article drew some awfully broad conclusions from safe-harbor language in Forest City's most recent quarterly earnings report.
And now, everyone's jumping on that bandwagon.
The Nets’ new arena being built in Brooklyn remains on schedule to open for the 2012-13 season, but a story in today’s New York Post suggested the rest of the nearly $5 billion project, of which the arena is supposed to be the centerpiece, is in danger of being scrapped.
Related coverage...
MyFoxNY.com, Nets Arena Plans Scaled Down
The Atlantic yards complex that will become the new home for the NBA's Nets could be a lot smaller than originally planned.
NYMag.com Daily Intel, Apartments, Parks, Mall, and Office Space May Never Get Built at Atlantic Yards, EVER
In SEC filings last week, Atlantic Yards developer Bruce Ratner admits: "If any of the foregoing risks were to occur we may ... not be able to develop Brooklyn Atlantic Yards to the extent intended or at all." As the Post observes, this means all Brooklyn will be left with is an uninspiring, brown stadium — and one of the worst teams in the NBA.
Posted by eric at April 4, 2011 11:34 PM