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May 9, 2012

Consultant's report: arena still on schedule, but mystery document not yet analyzed and made public

Atlantic Yards Report

According to the latest Site Observation Report, dated 5/1/12 and prepared by construction consultant Merritt & Harris on behalf of the arena bond trustee, Forest City Ratner, and Empire State Development, the Barclays Center arena is on schedule for substantial completion by 9/5/12--a date that was nudged back earlier this year--and a final completion by 6/30/13.

The associated transit connection is 3.5 months late beyond the 4/2/12 schedule,, but given that it doesn't need to open until the arena does, the slippage "will have no impact on the overall project schedule. "The slippage was dubiously attributed to "early delays." There were no such early delays.

Nor, actually, is either schedule completely credible, since, as I've reported, they revised the charts.

Schedule unclear

There's still a mystery. As noted in the screenshot below, the GMP2 [Guaranteed Maximum Price] executed 3/9/12 clarifies any "extension of the construction term" and "establishes the final completion date."

Merritt & Harris is still reviewing it. Note that the GMP2 was supposed to be issued before the end of 2011.


Posted by eric at May 9, 2012 1:07 PM