Atlantic Yards, Atlantic Yards, Atlantic Yards. It has been one of the biggest issues in Brooklyn for years, but now the controversial 22-acre development seems to be approaching its shit-or-get-off-the-pot moment. The final public hearing occurred at the end of July, held by the Empire State Development Corp., and the next major hurdle will be a hearing before the Court of Appeals on October 14, in which opponents will challenge the state’s use of eminent domain. Meanwhile, the New York Times chronicles the activities of principal developer Bruce Ratner during these crucial moments: preparing to sell bonds for the $800 million, 18,000-seat arena for the New Jersey Nets, meeting with potential investors (Russian oligarchs!), completing city and state paperwork, and steeling himself for multiple deadlines. The appeals decision is expected in November, after which Ratner, if victorious, will have until December 31 to begin building the arena in order to qualify for tax-exempt bond status and to keep a $400 million naming-rights deal with Barclays Bank.
Atlantic Yards Hearing ‘Less Raucous’ Than Expected [Brownstoner]
Atlantic Yards’ Developer Races to the Finish Line [NY Times]
Photo by Tracy Collins