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Atlantic Yards Signed, Sealed, Delivered

Categories: Atlantic Yards

ay-rendering-122309.jpgIt feels kinda anti-climactic, but after six years of public conflict, lack of transparency and backroom dealing, the Atlantic Yards deal has closed. This means that the both the bond deal and the real estate transaction involving Forest City, ESDC, the MTA and the City of New York have been signed. Curbed has posted a full-length version of the press release, but here's what Bruce himself had to say: “Today, what has long been a vision for the future of Brooklyn becomes a reality. Six years after we announced our plan for Atlantic Yards we are very pleased to be closing on the project with our public partners. Today’s closing represents a vital step forward for New York City, one that is all the more important because of the economic challenges our City faces. The jobs we are creating today, as we set forth on the arena and one of the boldest affordable housing initiatives in our City’s history, will create a new dynamic center in this wonderful borough.” We're sure others will have some choice words on the subject in the upcoming hours and days.



By Brownstoner at December 23, 2009 11:53 AM | Comments (38)

38 Comments

By bupe on December 23, 2009 12:05 PM

Finally. I hope DG will lose his shirt on that stupid condo. We could have had something way more interesting if the project wasn't stalled for so frigging long.

By benson on December 23, 2009 12:13 PM

Cue up the "Hallelujah" chorus from Handel's Messiah!!!!!!

Congratulations to FCR!! Start putting the shovels in the ground!!!

By FtGreeneCorey on December 23, 2009 12:19 PM

Thank God. It's about time...now hopefully DDDB (Destroy Don't Develop Brooklyn) will go away for good...although somehow I think they will still be filing frivolous lawsuits by the time LeBron is dunking on people at the Barclays Center. The 20-teens will be the decade of Brooklyn (just as the 1990's were the decade of Manhattan)

By Brokedeveloper on December 23, 2009 12:29 PM

Maybe DDDB should start fighting the Broadway Triangle Eminent Domain situation? Oh wait, its not in....their....back...yard.

I am actually not looking forward to the construction and traffic around that area, and will this do my best to avoid it for a while. Now that it is a done deal I hope its "done right".....I will believe it when I see it, though.

By moreteasir on December 23, 2009 12:34 PM

looking forward to getting my season tickets.

By Minard Lafever on December 23, 2009 12:37 PM

Isn't there another lawsuit pending? At this point the judges probably just roll their eyes at yet another anti-development grievance from this site. Same as Brooklyn Bridge Park where organizations have been formed to actually fight agaisnt the construction of a public waterfront park! Truly unbelievable. Being unhappy makes so many people happy.

By Watermellon on December 23, 2009 12:38 PM

Now they need to get the Islanders signed up and move to the BK as well. 2 professional franchises in BK would be sweet.

By slopefarm on December 23, 2009 12:45 PM

Wait, the 20-aughts weren't the decade of Brooklyn?

By dannyhellman on December 23, 2009 12:52 PM

An enormous George Foreman grill fisted sideways into the middle of Brooklyn's worst traffic nightmare. Fuck you very much, Ratner.

By FtGreeneCorey on December 23, 2009 12:58 PM

Meh...not so much. I think that the 20-aughts set the foundation for the future (rezoning of Downtown Brooklyn, rezoning of Williamsburg Waterfront, approval of AY, commencement of Brooklyn Bridge Park, the expansion of BAM and (maybe most importantly) the establishment of the Downtown Brooklyn Partnership) but the 20-teens is when we will start to see the tangible fruits of all of that labor.

By Brooklyn_Finest on December 23, 2009 1:04 PM

Looking forward to the Yards, brooklyn needs it.

By babs on December 23, 2009 1:33 PM

There are actually two lawsuits pending, and this deal is far from done -- Ratner has been obliged to place all funds in escrow until they are sorted out.

By be_rude on December 23, 2009 1:46 PM

The deal is not far from done. True, still not 100%, but really not far from it.

Don't (continute to) propogate the false hopes of the haters. One thing that _is_ far from happening is the lawsuits actually winning.

By DitmasSnark on December 23, 2009 2:02 PM

> "one of the boldest affordable housing initiatives in our City’s history..."

The only thing bold is that statement. Isn't the affordable housing component on indefinite hold?

By architect66 on December 23, 2009 2:10 PM

I'm not sure that 20 years of surface parking next to an arena counts as a big jobs generator, and certainly the consensus is that sports arenas are _not_ beneficial to the communities where they are located, no matter how hard some might wish for that to be the case. Certainly taxpayers are losers in this particular deal. And you realize that with the approval of the GPP, most of the basic urban design and zoning decisions about the site have been delegated to the developer. With FCR's dismal record of developing public places and spaces, I am not optimistic about the quality of the public spaces that will be a part of the development.

Still, moving into construction is just the first step, and hopefully time and constant efforts will bring improvements to what is eventually designed and built.

By shillstoner on December 23, 2009 2:20 PM

Not to be a downer, but I'd say we just finished the Decade of Brooklyn. The next decade will belong to some other place, probably Beijing.

By slopefarm on December 23, 2009 2:26 PM

FGC -- That's a developer's idea of a decade of Brooklyn. I'd say that a year in which I managed to play mini-golf with my family on a vacant lot in the industrial fringe of Bushwick on a course designed by nine cutting-edge design firms which we followed with a delicious meal next door, regularly hear excellent jazz in a tiny storefront on 5th Ave south of 9th Street, and have had several fabulous meals in Red Hook, all quite unthinkable a decade ago, I'd say Brooklyn's had quite a decade. When I wonder about what wonderful and odd things that might happen next to make Brooklyn better, large-scale residential and commercial development isn't one of them.

By daveinbedstuy on December 23, 2009 2:35 PM

Since I just arrived in Brooklyn in 2007, the Decade of Brooklyn has another 8 years to go!!

By Joe from Brooklyn on December 23, 2009 2:36 PM

Yeah, Yankee stadium is doing wonders for the South Bronx. If you think a sports stadium is going to improve anything your head is in the sand my friends. The only thing it's going to do is create more traffic, more crime and more tax breaks for Billion- dollar corporations and individuals. I won't set foot in it for an event (unless for free). After all the billionare wellfare I think these mofo's owe ALL of NYC some season freaking tickets!

By benson on December 23, 2009 2:49 PM

I was born the month the Dodgers left Brooklyn. I ushered in the decline of Brooklyn!

Glad I didn't have to croak first before its rebirth started.

By Joe from Brooklyn on December 23, 2009 2:55 PM

I was born the month the Dodgers left Brooklyn. I ushered in the decline of Brooklyn!

Glad I didn't have to croak first before its rebirth started.

Posted by: benson at December 23, 2009 2:49 PM

Funny how we have the scary Fed guy (Robert Moses) literally FORCE one team out only to have our children's children PAY top dollar for another. Let's just keep the city out of ANY decisions involving our lives and wallets PLEASE?

By Montrose Morris on December 23, 2009 3:37 PM

Just came from the area, and workmen are putting up large plastic signage/banners on the fences surrounding the empty lots across from the Atlantic Mall, on the Flatbush side, with shiny pictures of the Barclay's Arena-to-be. I hadn't read this announcement yet, but thought that something must have happened. I bet they had those banners a long time. Well, if it's over, it was a good, and necessary fight.

What Joe said.

By rfarren on December 23, 2009 3:46 PM

My only concern is whether or not they are doing undergournd parking. If this becomes a building with 200 acres of parking lot surrounding it, I for one will be very upset.

By threecee on December 23, 2009 4:04 PM

@rfarren: get ready to be very upset. the current plans are for an arena, maybe 1 or 2 buildings, and then acres of surface parking east of the arena.

By architect66 on December 23, 2009 4:05 PM

rfarren - the whole development is sitting on top of an active rail yard. There can't be any underground parking. They are going ahead with the arena, but the residential and other commercial portions of the development haven't even been designed yet. There will be parking lots.

By g man on December 23, 2009 4:21 PM

"Funny how we have the scary Fed guy (Robert Moses) literally FORCE one team out only to have our children's children PAY top dollar for another."

1. Robert Moses would never have been able to do what he did without federal funds, but he was a local guy, not a "Fed guy."
2. Moses did not "literally FORCE [the Dodgers] out;" he refused to faciliate their move to Atlantic Terminal. The Dodgers were offered land in Flushing Meadows and years after the fact O'Malley, referencing the Mets, conceded he was wrong in thinking no one would go there to see a baseball game.

Joe, if your conclusion is, "Let's just keep the city out of ANY decisions involving our lives and wallets PLEASE," I can only infer that you are an opponent of the Atlantic Yards project.

By Polemicist on December 23, 2009 4:29 PM

Thank the gods.

Soon, our city, state, and nation will be bankrupt and the 50% of the people in Brooklyn who are on welfare will hopefully flee for greener pastures. Soon, Brooklyn will become a thriving city again rather than a huge housing project with museum areas reserved for usurious banksters!

By Legion on December 23, 2009 4:53 PM

polemicist,

you may be right, we're driving on a mountain road and the fog is beginning to set in.
trillions piling up like old newspapers, a tone deaf government and not a hint of strong leadership in sight.
But it's all good as long the masses get their share of bread and circus. Or a new Net's stadium, in this case.

By fsrg on December 23, 2009 5:11 PM

This isnt over until Goldstein and the other idiots are pulled from their stools at Freddy's and the construction begins.....

inch by inch....closer...closer

By Sparafucile on December 23, 2009 5:22 PM

Sad day for New York taxpayers. Kudos to the project opponents for fighting the good fight.

By FtGreeneCorey on December 23, 2009 5:30 PM

I was driving up Atlantic on Sunday and I couldn't help but think that, while actual arena site at the corner of Flatbush and Atlantic is an complete and utter POS, it's actually nice compared to the corner of Atlantic and Carlton, Atlantic and Vanderbilt, Atlantic and Washington and everything in between, which look like they belong in a fourth world country (and have looked that way for the entire 38 years of my life). It may take 10 years, it may take 20 years...but WHATEVER ends up in that footprint will be better than what's there now.

By threecee on December 23, 2009 5:41 PM

FGC: The 22-acre AY site is much more than the 8.5-acre MTA Vanderbilt rail yard. I have yet to find anyone who doesn't want something built over the rail yard. The problems that most have with AY are the process, eminent domain, scale and sweetheart deals for billionaires.

By soundfreak on December 23, 2009 5:47 PM

Saw the banners just now and have been watching the scaffolding going up on the next building to be torn down from my back window. Oh well, looks like it's time to think about moving.

By FtGreeneCorey on December 23, 2009 5:56 PM

Thereecee, understood, and we've been discussing these issues endlessly on Brownstoner for more than five years. However, the bottom line is that people in this city like to talk and fight and sue over development projects for years and years and decades and decades and NOTHING gets done. Whether Atlantic Yards, or Brooklyn Bridge Park, or Hudson Yards or World Trade Center or Moynihan Station, it takes FOREVER to get anything done in this city. I fully expect that if AY were to ultimately get derailed, nothing will ever get developed at that site...never ever. In New York, it's damn near impossible get all the political, financial and regulatory stars aligned to move a major development project forward and everybody and their grandmother has a fu**king opinion.

By threecee on December 23, 2009 6:17 PM

FGC: I don't disagree that it's not easy to develop in NYC. But, it can and does happen. Would there have been opposition to even the UNITY plan had a developer tried to build that? Sure, but that's just the cost of doing business in NYC. I get frustrated, too.

That said, when something like AY comes along that's so clearly out-of-bounds (to me and many others), I think we citizens/taxpayers are duty bound to fight for development that truly benefits us, especially when the developer is getting so many benefits from us.

When I first heard the rumors about AY, and didn't know exactly what was planned, I was in favor of it. I like basketball (although I much prefer college ball). I also thought it would be great to build housing, shops and open space over the open rail yard. But as it became clear to me how much we were giving up to Ratner, that's when I became an opponent. Witnessing the process close-up for 5 years has only made me more resolute in my opposition. I think it's bad government and bad business.

Clearly, there are bitter divisions on AY, and I doubt that anything I write here will change minds. But, I feel compelled to correct errors/lies/half-truths about AY in the hopes that at least we all are fully aware about what it is and what it is not.

By Big Jugs on December 23, 2009 6:27 PM

Babs, you need a serious dose of Haldol. Your statement is about as delusional as can be.

By cmar7785 on December 23, 2009 7:55 PM

Bye bye Pacific Bears Gardens. The gorgeous, award winning community garden at Atlantic Yards will curl up and die when the huge buildings are built and the sun is blocked from the sun garden and veggie gardens. An environmentalist came and completed this study a year ago-- it's just very sad.

Students from all over Brooklyn come to this garden. It is also used by Entomologists at neighboring universities.

Just another public space that will be lost by this private monstrosity.

By Big Jugs on December 23, 2009 8:35 PM

It's more than a fair price to pay cmar7785. Grow up and face reality.

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