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October 17, 2011
Latest consultant's report: arena still ahead of schedule (lead nudges ahead), transit connection barely on schedule (and slowing); 422 workers
Atlantic Yards Report
According to the latest Arena Site Observation Report, dated 10/7/11, the Barclays Center arena remains on schedule, having increased pace slightly. By contrast, while the associated transit connection to the Atlantic Avenue subway hub is on schedule, but it's pace has continued to slow slightly.
The estimate, based on cash flow, comes in a report prepared by Merritt & Harris, the real estate consultant to the arena PILOT Bond Trustee. Two months ago, the consultant stated that the transit connection was two months ahead of schedule. There's always a time lag; this latest report is based on a 8/25/11 visit and documents made available 9/25/11.
Reading between the lines
The meaning of the pace reported is not simple to assess, as the consultant's rather opaque. This new report nudges up the arena completion by four days, to 8/23/12, while nudging the transit connection back six days, to 4/1/12. The report does not acknowledge that the latter date represents a revision of the schedule.
The report does not mention of the reason for and impact of extended construction hours--though it seems reasonable to conclude that extended hours are needed to stay on schedule.
Posted by eric at October 17, 2011 11:35 AM