Construction at the Vanderbilt Rail Yards, the MTA-owned site that Forest City Ratner put up $100 million for, has stopped altogether, reports the NY Daily News and Atlantic Yards Report. FCR blames Develop Don’t Destroy Brooklyn‘s court case, challenging their use of eminent domain, for the stop. AYR doesn’t buy it, “leading me to speculate that Forest City Ratner might be hedging its bets on completing the work or having cash-flow difficulties.” A few minutes ago, DDDB issued a press release saying that all work has stopped. The reason, according to them: lack of financing. They think maybe it’s time for the UNITY plan.
Atlantic Yards Project Location Sees Work Halted Abruptly [NY Daily News]
Photo by Tracy Collins.