Proposed: Atlantic Yards Development - Commercial, Residential, Retail, NBA Arena

[ZippyTheChimp]

you really think the city could pull off approval of a plan whereby decking over is funded w/o any immeidate or definite plans for further development post decking?Why do you think if the state funds the decking (which it's already doing anyway by giving the money to Ratner), developers won't be induced to bid? I listed what the site offers, and a solution for what it lacks. So what else is wrong with it?


effectively you're soliciting bids for infrastructural work only and rasing funding for that work with only theoretical justification of the development to follow.My entire neighborhood was built that way.

And you haven't said one word about Ratner's arena deal.

[BrooklynLove]

you can't take the two in isolation - the funding for decking is wrapped into the agreed development to follow. where do you live - battery park city? totally different scenario. nothing really to say about the arena deal that we haven't already said regarding the deal as a whole.

[ZippyTheChimp]

you can't take the two in isolation - the funding for decking is wrapped into the agreed development to follow.Who said isolation? My question was simple:Why do you think if the state funds the decking (which it's already doing anyway by giving the money to Ratner), developers won't be induced to bid?You seem to be avoiding stating what is wrong with the site other than a missing deck.

where do you live - battery park city? totally different scenario.How is it different?

[BrooklynLove]

i don't think that there could be funding for the decking w/o plans for the development wrapped in b/c you'd need both in order to get the political support needed to drive the funding for the decking. see, e.g., failed/stalled sunnyside yards efforts.

BPC - manhattan, immediate area with not so distant history of strong financial health, immediate surrounding area one of the most wealthiest commercial centers in the entire world.

[pianoman11686]

It's a sad state of affairs to see this development languishing. My only worry is that it could have been further along without all the legal hurdles/lawsuit-related delays.

Interesting discussion here. I agree that arena-based developments rarely work as well as they're touted. But I really liked the plan here because of how it seemed Gehry figured out how to make an urban arena work. In other words, I wanted to see this built pretty much as advertised.

If this ends up in an arena and one or two buildings constructed within 10 years, I will be disappointed. It's been a while since I read about the financing deals with the city (and some of the posts have me confused about it) but Ratner should not get a free arena here. Period. He needs to live up to the plan and develop the entire yards, or see to it that others do if he can't.

There should be a new way of setting up these contracts that splits the risks and rewards equally between city and developer. I generally don't like to see the city get involved in development, but if it's providing financing, it deserves a chance to profit if the developer does well. Otherwise, it's a risk for the city too, and if things fall apart, it's the city's fault for getting involved.

[ZippyTheChimp]

BPC - manhattan, immediate area with not so distant history of strong financial health, immediate surrounding area one of the most wealthiest commercial centers in the entire world.It was the late 1970s...

City lost 10% of its population during the decade.

It hovered near bankruptcy.

The crime rate and the sense that the city was out of control and ungovernable were at a peak for the century.

Hardy anyone lived in the financial district, and there was little desire to do so.

The biggest growth in population in the area was IPN - and it was Mitchell Lama.

BPC was not conceived as an upscale neighborhood. Its first and still biggest development was Gateway Plaza - also Mitchell Lama.

It was financed with a $200 million bond issue.

The differences you bring up between Manhattan and Brooklyn (specifically the two railyards) don't include the cost of the real estate. The two yards are roughly equal in size. The MTA sold the rights to HY for $1 billion; Ratner paid $100 million for the rights to AY.

-------------------------

As far as support for AY, that would not be too difficult. Ratner is poison, and now vulnerable. Any initiative that remove him from the picture would get political cover.

[BrooklynLove]

not really. area of BPC used to be a major center for commerce, and financial district was the undisputed center of big money biz in nyc. wtc injected fresh money into the scene. i never said anything about resi in that area. initial deal bpc proposals came from private sources - in fact, the city stepped in and took over the plans. total opposite from AY and HY. fiscal crisis didn't hit until development was well under way - 5-10 years in by the time work slogged. initial development was affordable (gateway plaza) but that's it.

ratner is poison to anti-AY crowd, and those who are impatient re his beekman tower school. that's about it. many more people support him and his work in bk. unfortunately it's only his haters that make the effort to scream and rant. definitely not vulnearble either - in fact stronger relatively b/c he avoids leverage (unlike macklowe, mcsam, etc). and he's doing just fine - financing landed for beekman tower, almost complete for dekalb tower, plugging away on AY.

[ZippyTheChimp]

not really.Don't want to get into a BPC debate with you, but you have this all wrong.

i never said anything about resi in that area.Doesn't matter if you meant residential or not. The point was how BPC was developed, and you said:battery park city? totally different scenario.We were talking about AY in comparison, remember?

initial deal bpc proposals came from private sourcesNot relevant. It was early 60s, and it never got off the ground. The landfill and staged infrastructure were financed with bonds.

in fact, the city stepped in and took over the plans.Backwards. The city transferred the land to the state (BPCA) in 1979.

fiscal crisis didn't hit until development was well under way - 5-10 years in by the time work slogged.Were you in NYC in the early 70s? Landfill complete 1976, building construction began 1980.

initial development was affordable (gateway plaza) but that's it.Incorrect, and also distorted. I think there are about 2800 residents in GP, and for at least a decade, the majority of the total. Even today, it's 25%. And again, the point is that it was the first development in the neighborhood - an indication that it was not planned as "Manhattan luxe."

----------------------------------

ratner is poison to anti-AY crowd, and those who are impatient re his beekman tower school.They're the one's making the noise, and we were talking about politics.

he avoids leverage (unlike macklowe, mcsam, etc).Who needs leverage when you can ask Albany for a billion or two.


Throughout this debate, you've dismissed the concept of breaking the site up into several developers, stating that a full plan is needed up front.

So what full plan do we have? An arena, a few buildings, and an evaluation [your word]. What if that evaluation determines that he needs more money (not to be confused with the more-money he says he needs now), and won't complete the project without it?

He can sit on his no-rent cash-cow arena, and wait out the state. We'll have a combo of Dolan and Joe Sitt on our hands.

The next time we groan at more bad news for Fulton transit, take note that AY rights were sold to Ratner for $114 million below the accessed value. Even Extell outbid him by 50%. The least he can do is stick his neck out a little, and put his name on a piece of paper guaranteeing the entire project.

[BrooklynLove]

very relevant - all goes to value proposition comparison and dynamic between bpc and ay. private interest launched the whole initiative, the state snatched control in the 60s and had enough political leverage at that point to steer the boat (i.e., raise funding via bonds in early 70s) due to the precedent of actual (not theoretical) private interest. 79 transfer to bpca was a result of the fiscal crisis killing all progress on the project for a couple years, the majority of infrastructural work (landfill etc) took place under control of the state in the 5+ years leading up to the standstill. never said this was planned manhattan luxe from day 1, but eventual access to top dollar space development (resi, retail, commercial) was a value driver for private interests from day 1 - as was born out once the state gave over control of the project - GP affordable component is only a slice of the initial planned affordable component. best the city can do (try to do) now is divert bpca funds to affordable housing elsewhere in the city.

i'm not addressing your alternative proposals for AY b/c - in my opinion - they're unrealistic. re extell bid, not nearly enough info to pass judgment.

[ZippyTheChimp]

never said this was planned manhattan luxe from day 1You were trying to show a difference in attractiveness for development of BPC in the 70s and AY today. Do I have to repeat the earlier post on relative economic conditions?

but eventual access to top dollar space development (resi, retail, commercial) was a value driver for private interestsThere's better demand today for AY space.

GP affordable component is only a slice of the initial planned affordable component.I think that should be my argument, not yours. I rented and sublet an apartment in BPC when it first opened, staying at my house in Brooklyn until things sorted out. When I bought an apartment years later, condo and rental rates were still lower than in comparable neighborhoods in Manhattan. It's obvious that you weren't around at the time to know the conditions, and are offering conjecture as to the initial demand to build out the site.

i'm not addressing your alternative proposals for AY b/c - in my opinion - they're unrealistic. My actual question was: What full plan do we have? That was your requirement.

[BrooklynLove]

It's obvious that you weren't around at the time to know the conditions, and are offering conjecture as to the initial demand to build out the site

not conjecture.

[BrooklynLove]

http://origin.observermediagroup.com/2008/mta-chief-concerned-about-100m-owed-atlantic-yards

"Mr. Riegelhaupt's (lengthy) statement:
The reality is the project is moving forward and we are making significant progress on the site each day. Thus far we have contracted out over $42 million worth of work on the site and roughly 50% of the structures on the site have already been taken down. We have begun construction of the temporary rail yard and we expect to break ground on the arena later this year. We expect to open the first residential tower, which will have a significant amount of affordable housing, at the same time as the opening of Barclays Center. By that time we also expect to have started construction on the second residential tower which will also have a significant amount of affordable housing. The rest of Atlantic Yards, including all of the remaining affordable housing, will be built out from there."

[JCMAN320]

Newark hoop dreams

Posted by Star-Ledger editorial board April 21, 2008 10:30PM

An arena was supposed to be growing in Brooklyn to provide a new home for the Nets in 2010, when the basketball team leaves the Izod Center in the Meadowlands.

For those looking at Brooklyn from New Jersey, the wish that something -- anything -- might happen to keep the Nets in New Jersey has been a hope that would not die.

Some things have happened. The real estate and credit markets have changed since the $4 billion Brooklyn Atlantic Yards development, with thousands of condos, other homes and an 18,000-seat arena, was proposed. Financing is no longer easy. The payoff is no longer certain. The Nets are losing $40 million a year.

When developer Bruce Ratner bought the team in 2004, the arena's estimated cost was $600 million. That has grown to $950 million, which would make it the most expensive arena ever. Delays caused by local opposition and financing problems could make it more expensive than that.

Those who dream in New Jersey know the rumors that developer Ratner bought the Nets only to sweeten the appeal of the development project. The reverie is that if Brooklyn falls through, a coalition of New Jersey buyers (led by the New Jersey Devils hockey team, perhaps?) would take the Nets off Ratner's hands. Then the Nets would move into the shiny new Prudential Center, which the Devils built with the city of Newark. Whether the financing of the Newark arena made sense (the city put up the lion's share), it's built and it draws tons of fans via mass transit. The arena here was originally planned as a home for the Nets, and that's where the team belongs.

What stands in the way of the dream? Well, there's Ratner. "Newark is not even a consideration. We're moving to Brooklyn," said a spokesman for the builder and the team. They are planning to break ground this year. They say.

Apart from whatever Ratner may be dreaming, there is the stumbling block of a clause in the Nets' contract with the New Jersey Sports and Exposition Authority, which owns the Izod Center. If the Nets leave to play anywhere other than Brooklyn, the team must pay the authority a penalty that starts out at $12 million a year.

That clause was generally considered to be anti-Newark. Considering that the authority is a state agency, the provision seemed as hideous and out of place as a giant, psychedelic Ferris wheel in a swamp.

Something has happened. The hateful clause is being explained as a nonhostile means of preventing the Nets from pitting the Meadowlands against Newark. It was meant to avoid a bidding war for a short-term contract while the Brooklyn arena was built.

In fact, sources have told The Star-Ledger editorial board that if the Nets sign a long-term deal to play in Newark, the sports authority would waive that clause and happily cooperate with the Prudential Center for the greater glory and profit of both New Jersey venues.

If the authority is beginning to see the light, who knows what else might happen? Clap your hands and say, "I believe," sports fans. Might as well keep dreaming.

[Alonzo-ny]

Its not like they are moving a million miles away, wouldnt Brooklyn be closer to you than Newark anyway? At least as the crow flies.

[JCMAN320]

Not really because I live on the Westside of Jersey City, the side of the city closer to Newark.

Its a 15 min bus ride to JSQ and then only two stops from JSQ to the Prudential Center; compared to taking the lightrail 5 blocks from my house at Westside, go 7 stops on the lightrail, get off at Exchange Pl. to get on the PATH train, take it 1 stop to WTC, transfer to the 2/3 train to take it 6 stops to the yet to be if ever built Barclays Center.

I really hope Vanderbeek (owner of the New Jersey Devils) can pursuade Ratner to sell the team to him and some other New Jersey businessmen to move them to the Prudential Center, which has an NBA ready lockeroom.

[BrooklynLove]

^you're torturing yourself JC. time to move past the denial phase and onto the acceptance and adjustment phase. you know there is a silver lining - maybe jay-z will get your boys lebron.

[JCMAN320]

There is hope BK Love, never count New Jersey out, people should have learned that by now-
From The Real Deal:

Investors urge Ratner to ditch Brooklyn for Newark arena

http://s3.amazonaws.com:/trd_three/images/32796/Prudential_Center_articlebox.jpg
The Prudential Center
By David Jones

Developer Bruce Ratner has been approached by several New Jersey investors and public officials on a plan to relocate the Nets to the Prudential Center in downtown Newark, according to sources familiar with the talks.

The investors would like Ratner to have the Nets partner with the New Jersey Devils and move into the Prudential Center in Newark, where the hockey team has just finished its first full season.

"They're being wooed politically as well as by the private sector," said Ken Baris, a West Orange, New Jersey-based realtor, who is familiar with some of the investors who have approached Ratner. "There's a lot of people that kind of want to keep it quiet, but [at the same time] are looking forward to a lot more leaks."

A move to Newark would effectively end Ratner's efforts to move the Nets to a proposed $950 million Barclays Center in downtown Brooklyn, which was to serve as the centerpiece of his controversial $4 billion Atlantic Yards complex and would be the most expensive basketball arena in the country. Nets officials denied there have been any plans to move to Newark and have insisted they are moving forward with the Brooklyn arena.

"The Nets are moving to Brooklyn, period," said Barry Baum, a spokesman for Forest City Ratner who handles the Nets.

Still, sources say the discussions have life.

Since the October opening of the Prudential Center, Newark officials have urged New Jersey Governor, Jon Corzine, to shut down the Izod Center in East Rutherford, where the Nets have played since 1981.

After failing to make the playoffs and trading its star player, Jason Kidd, the Nets are expected to lose more than $40 million for the 2007-2008 season. They currently plan to stay at the Izod Center for at least another two seasons.

"If they don't get that arena built in Brooklyn in the next couple of years, I'm doubtful that Ratner would want to keep paying for losses for the Nets," said Michael Cramer, professor of sports management at New York University. "It would have been good to get the Nets and Devils in the same arena."

Baum said, however, that the Nets are set to announce new corporate partners in May for luxury suites at the proposed Barclays arena, and are working to sell season tickets and corporate sponsors at the Izod Center for the remaining two years at that site.

New Jersey Devils owner Jeff Van der Beek declined to comment on the Nets. But, he said, the arena is doing much better than "our wildest expectations." He said the Devils were averaging about 16,000 fans a game and that the arena would average about 175 event nights in its first year. He said he hoped that the number of events would climb to 225 per year in the future.

Essex County Executive Joseph DiVincenzo wants the Nets to join the Devils in Newark, and has publicly questioned claims by the New Jersey Sports and Exposition Authority that the arena can turn a profit with no hockey team and limited public transportation.

"We would welcome the Nets with open arms," DiVincenzo told The Real Deal. "If anything could be negotiated I think it would be great." A provision in the Nets lease with the NJSEA calls for a $12 million penalty if the Nets move to another arena outside of Brooklyn or Queens, however the Star Ledger reported earlier this week that officials might be willing to waive the penalty.

Ratner told the New York Times in March that he would not be able to finance the full 16 building Atlantic Yards project for several years due to a weak financing environment and the inability to find an anchor tenant for the Miss Brooklyn office tower. However, he said, that he would move ahead with the arena by the end of 2008.

Atlantic Yards opponents have petitioned the U.S. Supreme Court to hear their case and officials from Develop Don't Destroy Brooklyn said they expect the court make a decision on whether to hear it by June.

http://ny.therealdeal.com/articles/investors-urge-ratner-to-ditch-brooklyn-for-newark-arena

[ablarc]

Atlantic Yards opponents have petitioned the U.S. Supreme Court to hear their case and officials from Develop Don't Destroy Brooklyn said they expect the court make a decision on whether to hear it by June.

One more off-topic point: Atlanta got the olympics, LA got the olympics, Chicago is going for the olympics, and NYC could have had the olympics but the nimby's pissed off the olympic committee and killed the plans to build what NYC told the olympic committee they were going to build.

Even if NYC is the biggest world class city, and I think it still is no thanks to NYC nimbys, it does not excuse these world class screw ups. Who was really proud when Bloomberg officially withdrew NYC's bid for the olympics because we could not build what he told the olympic committee NYC was planning to build.

Bottom line: NIMBYS must be stopped, especially the ones in NYC.

.

[BrooklynLove]

rediculous. ratner's interest in nj at this point (if any) would be as leverage to sweeten his bk deal. i realize that the devils are out now, but there still must be something else more worthy of nj's sports scene's attention. this ship has sailed.

[JCMAN320]

This is still a New Jersey team that we will fight to keep here. The only thing here to keep Jersey fans sports interest is the NFL Draft, and the Yanks and Mets, and several minor league baseball teams in New Jersey. Don't try and take the light off this, there is a spotlight on Ratner now and the Nets and NJ officials smell blood in the water. They want the Nets at the Prudential Center with the Devils, where they were originally going to go and belong!!

[kliq6]

This is still a New Jersey team that we will fight to keep here. The only thing here to keep Jersey fans sports interest is the NFL Draft, and the Yanks and Mets, and several minor league baseball teams in New Jersey. Don't try and take the light off this, there is a spotlight on Ratner now and the Nets and NJ officials smell blood in the water. They want the Nets at the Prudential Center with the Devils, where they were originally going to go and belong!!

Im all for you guys keeping the Nets, anything to stop this joke of a project from happening. Im one o fthe most pro development guys on here but this project is a rip-off to the community that lives in the area, a waste of tax pay money and a overall joke.

[BrooklynLove]

you guys should build a nascar track in jersey.

[JCMAN320]

*Cringes*, thanks but no thanks, I'd like to keep the rednecks in S. Jersey in the Pinebarrens. ;)

[ablarc]

^ Elitist?

[BrooklynLove]

nascar aint just for rednecks anymore. would be big money for your state. SI's short-sitedness could be NJ's blessing.

[STT757]

I agree, a NASCAR track that can also host Indy Racing League, CART and possibly a US Formula One race would be great. I would prefer to have it near Atlantic City, not because of the similar cultural aspects of South Jersey to Southern US States where NASCAR is wildly popular. Rather I would want it near Atlantic City to take advantage of the tons of rooms al ready available, where if they built it up North they would need to build lots of new hotels.

That being said plans that have been kicking around for a while now involve a NASCAR track built around the Meadowlands horse track.

[BrooklynLove]

the AC angle has some merit, but i think there is more interest from proponents closer to NYC. there is a huge geographical void along the NE corridor. move inland or south and you run up against dover and poconos tracks. def agree with multi-cicuit track - maybe something like watkins glen.

remember when lower manhattan almost got a formula 1 stop back in the early 90s? that woulda been off the hizzy.

[JCMAN320]

Lol I was kidding. I'm not being elitest, NASCAR just isn't for me. I do like F1 and have gone to Indy to see it the last 4 years with my father for fathers day. AC could use it, but the Meadowlands would be excellent.

[Optimus Prime]

I would still like to send the Dolans, er Knicks, to Newark. :D

Actually I am with kliq6 on this one, building the arena alone without funding all of the other development is a joke. JCMan, you can keep the Nets, we don't need Ratner. We have enough extortionist developers as it is.

[ZippyTheChimp]

I've put up with Gehry's lame attempts at an urban site plan, and Ratner's bait and switch tactics while asking for for more public money. I even grudgingly accepted the Eminent Domain utilized to take private property, on the assumption that the entire railyard would be built out - a public good.

The original arena plan was presented as good urban design, being encased within buildings. But what we are left with is a stand-alone arena.

The only reason I can see to like this plan is to get the Nets to Brooklyn, but at $900 million, they can stay in New Jersey.

[JCMAN320]

NJ group explores bringing Nets to Newark

by Ian T. Shearn/The Star-Ledger Thursday May 01, 2008, 12:05 AM

The owner of the Devils hockey team and Newark Mayor Cory Booker are seeking to assemble a group of investors to buy the Nets and move the basketball team to Newark, according to people familiar with the effort.

In recent weeks, Devils owner Jeffrey Vanderbeek has met with Nets owner Bruce Ratner, while Booker has spoken to an official at Ratner's development company, Forest City Ratner Cos., according to three sources with direct knowledge of the discussions. The outcome of each talk was characterized as "open-ended." The parties spoke on the condition they not be identified.

The effort to bring the Nets to Newark, where they would play in the Prudential Center along with the Devils, comes amid growing speculation on whether Ratner can complete a $4 billion retail and residential development in Brooklyn, given the deepening crisis in the credit markets. To date, there is no indication the Nets are for sale, and Ratner repeatedly has said he is happy owning the team and looks forward to moving to a new arena in Brooklyn.

"The team is absolutely not for sale," Ratner said through his spokesman, Howard Rubenstein. "We're inches away from completing the deal in Brooklyn."

At the same time, one of the sources said Vanderbeek has been approached over the past two years by a half-dozen people who have expressed interest in investing in a Nets purchase. It was unclear whom Vanderbeek and Booker have spoken to about a potential purchase. But two of the sources said Booker also has tried to entice Ratner by offering him development possibilities in Newark.

Asked this week about his interest in the Nets, Vanderbeek would say only: "The Nets have stated they are going Brooklyn. We wish them all the luck in the world."

Booker's office declined comment.

Officials who follow sports and development in the region said Ratner still faces challenges in moving the Nets to Brooklyn from their current home in the Meadowlands.

"This is like a death watch," Senate President Richard Codey said of the delays in the project. "Not a single piling has gone in the ground."

Carl Goldberg, chairman of the New Jersey Sports and Exposition Authority, said he believes the Nets could remain where they are.

"The likelihood of the Nets actually building a new facility in Brooklyn and leaving our facility at the Izod Center is diminishing by the moment," Goldberg told a group of Star-Ledger editors in February. "The cost of steel and concrete and the challenges of building a facility of that nature over the railyards are becoming more difficult."

The Nets were supposed to move from the Izod Center in East Rutherford to the new Barclays Center for the 2008 season, but that date recently was pushed back to 2010.

That delay is the latest setback for the project, one of many large-scale private/public efforts being delayed or scaled back across the nation. Finance experts say the sub-prime mortgage crisis that has paralyzed financial institutions is making banks close their lending windows for projects of this magnitude.

Even Ratner's executives have conceded the uncertainty of obtaining money for a $950 million arena, as reflected in a January court filing by Andrew Silberfein, Forest City's director of finance:

"The credit markets are in turmoil at this time. Many lenders and bond insurers are facing financial difficulties, and are becoming much more cautious. ... There is a serious question as to whether, given the current state of the debt market, the underwriters will be able to proceed with the financing for the arena."

Wednesday, Ratner, through Rubentein, said the affidavit is no longer accurate. "We are very confident we will get the funds necessary for the arena. During the past year, we closed on two of the largest construction deals in our company's history, totaling more than $1.3 billion, and we expect to do the same here."

Lawrence Swift, a partner at Troutman Sanders, a Manhattan law firm that specializes in sports facility financing and other large transactions, said major investment banks have hiked interest rates and fees, which dramatically raises the cost of bond deals to their sponsors.

"All of the things being sold in the market are being pulled back," Swift said. "People don't want to pay the price to market things for any long-term paper."

This week the investment banking firm Goldman Sachs, which was hired to lead the financing for the arena, reaffirmed its commitment. Michael DuVally, a spokesman, said in an e-mail Goldman Sachs is "confident we will close on the financing for the project by the third quarter."

The Nets team, which Ratner bought for $300 million in November 2005, is now worth an estimated $338 million. It is losing $40 million annually, team officials recently announced.

But Nets chief executive Brett Yormark brushed aside any financing concerns, noting Ratner just got a $680 million construction loan to build a separate 900-unit luxury rental tower in Lower Manhattan, to be designed by Frank Gehry.

"When you have a great project and you have people that want to be involved in the project, you can get financing," Yormark said.

On a recent trip to Europe, Yormark said he met with 10 potential Barclays Center "founding partners" that would get exclusive advertising rights in their category at the Brooklyn arena.

"We've got incredible interest," he said.

But George Zoffinger, former chief executive of the New Jersey Sports Authority, said a billion-dollar arena would make it impossible to turn a profit.

"When you start to spend north of $500 million for an arena, you can't generate the cash flow necessary to generate a decent return on the investment," Zoffinger said. "If the number is $900 million, it's absolutely, positively not viable from an economic standpoint."

If the Nets continued to face delays in Brooklyn, the arenas in Newark and East Rutherford could find themselves in another battle for the team. Last year, the Devils moved from the Meadowlands to Newark.

Bringing the Nets to Newark would be another a boon to the Prudential Center, said T.J. Nelligan, a sports marketing expert. Most successful arenas book at least 200 dates a year, and if the Prudential Center had a professional basketball team to go alongside the Devils, it would be halfway to meeting that goal before booking a single concert or family show, he said.

"You really need more people fighting for those dates to make it more profitable," he said. Plus, "it would help the value of your sponsorships, it would help drive traffic to the arena, it would help sell food, merchandise, everything."

Perhaps the most significant factor is that the Prudential Center would have one fewer competitor to worry about if the Brooklyn plans fell through, said Gary Bongiovanni, editor in chief of Pollstar, a concert industry magazine.

"It may well be that the biggest boon would be not so much that the Nets moved but that the competing arena went away," he said. "The Nets could move to Vermont and Prudential would be happy."

As for the Newark rumors, Yormark said: "I take it as a complete compliment that the Prudential Center would like us to call them our home. Unfortunately that's not going to happen, but I view it as a complete compliment."

Staff writers Maura McDermott, George E. Jordan and Josh Margolin contributed to this report.

[BrooklynLove]

screw the deck. let's make the RR cut a drag strip and bk becomes a stop on the nhra circuit.

[STEAMWORKSNYC]

I was pro arena as well,but without the other towers the Nets arena would look out of place.I don't know now ,this project has become a sham.

[Stroika]

Here's an idea: Why doesn't the city lean on NYU President John Sexton, who's intent on splitting NYU between New York and Abu Dhabi, to get his sheikh pals to fund Atlantic Yards? They're only spending a mere $27 billion to buy culture for their kingdom...

I think that begins to address the problems of selling a top US academic institution to the top bidder - and diluting one of the greatest resources the US has in attracting educated immigrants.

(courtesy of ablarc: http://nymag.com/news/features/46000/index1.html)

[BrooklynLove]

I was pro arena as well,but without the other towers the Nets arena would look out of place.I don't know now ,this project has become a sham.

don't be distracted by the haters. this project will happen as planned just gradually.

[JCMAN320]

Booker to Brooklyn: Let's settle Nets matter on basketball court

by Jeffery C. Mays/The Star-Ledger Thursday May 01, 2008, 7:25 PM

If left up to Brooklyn Borough President Marty Markowitz and Newark Mayor Cory Booker, the battle over the Nets won't be decided by the credit markets or zoning boards, but rather on the basketball court.

Booker challeged Markowitz to a one-on-one game of hoops for the Nets after the borough president released a statement today calling Newark, Brooklyn's 'western suburb" and insiting New Jersey's largest city will never steal Nets from Brooklyn.

The trash talk came in response to a story that ran in The Star-Ledger today that reported New Jersey Devils owner Jeffrey Vanderbeek and Booker are quietly trying to assemble an investment team should plans to build a new arena in Brooklyn go asunder.

Nets owner Bruce Ratner has said the team is not for sale. But that wasn't enough for Markowitz.

"After years of obscurity mired in the Meadowlands, the Nets are ready for a slam dunk in the Brooklyn big leagues. Who knows, maybe the Devils want to lace up and come here too! If my esteemed colleague Cory Booker in Brooklyn's 'western suburb,' a.k.a. Newark, New Jersey, is looking for a professional basketball team, maybe he should ask the Knicks," Markowitz said in a statement.

Booker responded by saying he would continue to pursue his "personal dream" of bringing the Nets to the $375 million Prudential Center "no matter how unrealistic."

"I yield to...Marty Markowitz, my esteemed colleague in the "eastern suburb" of Newark a.k.a Brooklyn, and would like to officially challenge him with the remaining shreds of my athletic pride to a one and one basketball game to battle for the Nets!"

Markowitz' website said one of his campaign promises was to bring the first national sports team back to Brooklyn since the Dodgers left.

"I accept Mayor Booker's challenge and must remind him that I am only 5-foot-5," said Markowitz. "I'll accept the challenge only if I can have a ringer play against him."

[JCMAN320]

It's time to bring the Nets to Newark
Team moving to Brooklyn just doesn't make sense

by Steve Politi/Star-Ledger Columnist Friday May 02, 2008, 3:01 AM

NEW YORK -- The woman waiting at the Flatbush Avenue bus stop closes her novel and gestures with her hand, as if showing this out-of-town visitor the big attraction in Brooklyn. Except the attraction is ... nothing?

"Well, here it is," Julie Bleha says.

Where?

"Over there somewhere."

There?

"That's it."

Bleha, who lives a few blocks away, points across the busy street to a scene that includes many things. A busy rail yard. An abandoned house. Several empty lots. Oh, and traffic. Lots of that.

What's missing from this scene, however is much more telling. No cranes lifting steel girders. No bulldozers moving dirt piles. No construction foremen barking orders.

No signs of the swank $950 million arena that Nets owner Bruce Ratner has planned for his team or the accompanying housing project that his Web site promises will create "a new vision for downtown Brooklyn" -- and no signs anything will happen soon.

Well, that isn't entirely accurate. There is one sign, attached to a chain-link fence, that directs people to an office a few blocks if they have questions about the Atlantic Yards project or the arena.

One jumps to mind: Where the heck is it?

Nets officials insist they still are targeting the 2010-11 season as their first in their new home, but even they have to know that's silly talk. Ratner, who loved to glad-hand reporters after games when his project was on track, turned down multiple interview requests over the past month.

"We are going to Brooklyn," his CEO Brett Yormark said. He has bragged in recent interviews about a recent trip to Europe to meet with eager corporate investors about the project.

The Nets can't sell tickets in Paramus, but now they're going to sell sponsorships in Paris?

The truth is, this franchise is closer to winning an NBA championship than to playing games near the intersection of Atlantic and Flatbush in Brooklyn. And, as any Nets fan who saw a game last season can tell you, there is no rush to clear room in the rafters for a banner.

Most troubling for the team? You can't find many people outside of Ratner and his minions who think the arena in Brooklyn makes any sense now. The cost for the arena alone is quickly approaching $1 billion, which would make it twice as expensive as any in U.S. history.

The financial markets have stalled. The neighbor opposition is still strong -- residents filed yet another lawsuit this week. The team is already hemorrhaging money and writing its owners love letters requesting checks to cover those losses. And the best acts always will prefer to play at Madison Square Garden, no matter how nice a place Ratner manages to build for this often-overlooked borough.

Ratner needs to come to grips with this: His team is heading in the wrong direction, and it has nothing to do with missing the playoffs for the first time in seven seasons. Too much stands in the way of the ambitious Brooklyn move to think it will ever become a reality.

Staying put is not an option, either.The Izod Center -- eaten alive by the Xanadu mess at the Meadowlands -- needs millions in long-overdo improvements for it to continue as a viable home, and even then, it would never become a profitable one for the Nets.

That leaves one destination. Moving the team to Newark makes sense on so many levels, which is probably why it hasn't happened. The Prudential Center has oodles of open dates to fill, and unless Ratner has forgotten, this is the state that has supported his sorry franchise for the past 40 years.

The Nets are lost, and somebody needs to point them down Route 21. Ratner needs to strike a deal with Devils owner Jeffrey Vanderbeek in the short term to get the Nets out of the Meadowlands, a situation that would be mutually beneficial for both owners. And if the struggles continue across the Hudson, Ratner should sell the team to New Jersey investors to keep it where it belongs.

That would make Bleha and others in her neighborhood happy. The mood here about Atlantic Yards ranges from outrage to skepticism to apathy. Another rally against the project, billed as the biggest one yet, is planned for Saturday afternoon. A concert series featuring local musicians and the release of a documentary against the project will follow later in May.

"It's a complete and utter sellout," Bleha said from the bus stop. "Look at this traffic. This is the middle of the day on a weekday. All the housing that's supposed to be part of it? Well, where are the schools?"

The schools are only part of what's missing. Where are the condos? The affordable housing? The office space? The bulk of the project is stalled as Ratner struggles to find financing or an anchor tenant for its office building, with the arena remaining the priority.

What, if anything, that eventually will sprout up over the rail yard is a mystery to residents. Pat Cabbagestalk was sitting at a patio table outside of the Atlantic Terminal Mall -- the other Ratner creation in this neighborhood that is either an economic benefit or an unnecessary eyesore, depending on your perspective.

"My major concern is, what does it mean for the people who are being pushed out?" Cabbagestalk said. "The original concept was to build a stadium and housing. Now, the whole concept has changed. They're building the stadium first but not the affordable housing? I find that highly suspect.

"I don't think they're going to fulfill the promises," she said. "I think they just said all that to get it going."

From her seat, the progress -- a Chuck E. Cheese and a Target, among other typical chain stores -- was behind here, while the 22 acres that would become Atlantic Yards were in her line of sight.

She could see the rail yard, the chain link fence with that sign, the empty lots and buildings slated for demolition. But no signs of an arena for a lost basketball franchise that doesn't belong here. And none coming soon.

[STEAMWORKSNYC]

I don't know JC , it all comes down to Ratner and he has stated that the Nets aren't for sale.They can create a legion of investors and it still all comes down to one man who he sticking with his plans.

http://www.nypost.com/seven/05012008/sports/nets/ratner__nets_not_for_sale_108996.htm

[pianoman11686]

So Booker wants to play some streetball, huh? Cute.

[ZippyTheChimp]

I don't know JC , it all comes down to Ratner and he has stated that the Nets aren't for sale.They can create a legion of investors and it still all comes down to one man who he sticking with his plans That's right.

It isn't a fight over the Nets between Ratner and other interests. It's Ratner's decision, and it will be based on what's the better deal for him - selling the team or moving it to AY.

Moving the team gives him access to all the public funding, whether the project gets fully built or not. He gets a financed arena with no lease. He could become a Dolan, and sit on a cash cow for 30 years. If he sells the Nets, AY is finished.

So AY has to become less attractive than selling the team.

[JCMAN320]

^^^^Well lets see if some people can make that happen. Make AYs unattractive, which it is becoming by the day, and watch the Nets go right to Newark where they rightfully belong.

Also let us not forget that before Corzine was Gov, he bid for the Nets, but was out-bid by Ratner!

Corzine wants Nets to stay in New Jersey

Friday, May 02, 2008
BY IAN T. SHEARN
Star-Ledger Staff

Gov. Jon Corzine said yesterday he would like the Nets to stay in New Jersey, be it Newark or East Rutherford, but sees no need for his involvement at this point.

"It would be encouraging to have the Nets stay here, whichever venue," Corzine said. "I would very much prefer they be in New Jersey as opposed to Brooklyn, and we will wait to hear whether there are propositions that the state has a role to play in," the governor told reporters following an appearance in Piscataway.

The governor's remarks came in response to a story in The Star-Ledger that ran yesterday. That story reported that Devils owner Jeffrey Vanderbeek and Newark Mayor Cory Booker are quietly trying to assemble an investment team should plans to build a new arena in Brooklyn go asunder.

"There have been no discussions with any elected officials or business executives about buying the team or moving to Newark," Nets owner Bruce Ratner said in a statement released yesterday. "The team is very simply not for sale and any stories that suggest or insinuate that we would be interested in listening to those conversations are flat-out false."

Nets president Rod Thorn yesterday underscored Ratner's assertions: "All the indications that I've been given are that we are going to Brooklyn, and that they expect us to be there in 2010. ... And yes, I've asked. I feel confident that it's going to happen, because that's what ownership says is going to happen."

But a statement filed by the team with the SEC a month ago lays out the risks related to the Brooklyn development.

"Our investment in the Nets is subject to a number of operational risks. .... There is also the potential for increased costs and delays to the project as a result of increasing construction costs, scarcity of labor and supplies, our inability to obtain tax-exempt financing or the availability of financing or public subsidies, increasing rates for financings, and other potential litigation seeking to enjoin or prevent the project for which there may not be insurance coverage."

Then, the report states, "If any of the foregoing risks were to occur, we may not be able to develop Brooklyn Atlantic Yards to the extent intended or at all."


Staff writers Claire Heininger and Dave D'Alessandro contributed to this report.

[JCMAN320]

^^^Ratner has to give it up. I find it hard to believe Booker, Vanderbeek, Corzine, and the Star-Ledger are all lying or being miss quoted. Just admit that you have talked with them and exploring other options Ratner.

Rally Will Call on Governor To Halt Atlantic Yards

By PETER KIEFER
Staff Reporter of the Sun
May 2, 2008

Seizing on a string of reports questioning the economic viability of the Atlantic Yards project, hundreds of residents and a handful of elected officials are expected at a rally Saturday calling on Governor Paterson to step in and halt all demolition related to the $4 billion plan.

"There is tremendous uncertainty about the future of the project," Assemblyman Hakeem Jeffries said in an interview yesterday. "Myself and several of my colleagues in the state believe under Governor Paterson we have an opportunity for a complete re-evaluation of the size, scope, and definition for the Atlantic Yards project."

Since becoming governor, Mr. Paterson has been quiet on Atlantic Yards, an 8-million-square-foot development that would create more than 6,000 apartments, office space, and an arena for the Nets basketball team on 22 acres, near the intersection of Flatbush and Atlantic avenues in Brooklyn. The plan required the state to exercise eminent domain, a process that Mr. Paterson opposed when he was a state senator.

The original Atlantic Yards proposal pledged 2,250 "moderate income" residential units, but a number of critics are now questioning whether the affordable housing will be built.

A spokesman for Forest City Ratner, Loren Riegelhaupt, said all facets of the plan, including the affordable housing, were moving forward and that the company expects to break ground on the arena later this year. "Nothing has changed. We are going to build all of the Atlantic Yards and all of the affordable housing. Any rumors that things have changed are flat-out wrong," he said.

Mr. Riegelhaupt also warned that any delays would hurt the community. "Any slowdown in our construction phase will only result in the delay of the affordable housing and the jobs we are trying to create with this project," he said.

Following an acknowledgement a month ago that the plan was delayed, developer Bruce Ratner and his company have been forced to address a series of questions about the project's viability.

Yesterday Mr. Ratner denied a report in the Newark Star-Ledger that the owner of the New Jersey Devils, Jeffrey Vanderbeek, and Mayor Cory Booker of Newark were trying to assemble investors to buy the Nets and move the basketball team to Newark from the Izod Center in the Meadowlands.

"The team is very simply not for sale and any stories that suggest or insinuate that we would be interested in listening to those conversations are flat out false," Mr. Ratner said in a statement. "We are focused on breaking ground on the Barclays Center in Brooklyn later this year and building all of Atlantic Yards, nothing else."

The Star-Ledger report came a day after a group of 13 residents whose apartments face condemnation filed a lawsuit in state Supreme Court in Manhattan. The suit alleges that the agreement between the Empire State Development Corporation and Forest City Ratner violates the state's eminent domain law, which says seized property must be offered back to its prior holder if it is not "materially improved" in 10 years.

The agreement reached with the ESDC gives Forest City at least 12 years to complete the first phase of the project and an unspecified amount of time for the second phase.

"Something is up. If the project was a done deal, why are they now talking about selling the Nets and why is the city funding an agreement allowing Ratner to build a project that is much smaller with far fewer affordable units with no penalty?" a spokesman for Develop Don't Destroy Brooklyn, Daniel Goldstein, said. "That is why we need a time-out."

Senator Velmanette Montgomery, Assemblywoman Joan Millman, and City Council members Letitia James, David Yassky, and Tony Avella also are expected to participate in Saturday's rally.

[Scraperfannyc]

It's Ratners team, so he calls the shots. If someone else wants to call the shots, then they have to buy the team. Nets fans wishes are just that. Maybe Corzine has enough money to buy the Nets, who knows?

[ZippyTheChimp]

If someone else wants to call the shots, then they have to buy the team.Or stop the funding.

If that happens, he'll probably actively pursue selling the team. It loses money where it is. He could retain ownership and move the team to Newark, but he wouldn't have the same sweet arena deal he'd have in Brooklyn.

and watch the Nets go right to Newark where they rightfully belong. Nonsense.

They belong wherever the owner (within NBA rules) wants them to be. All this other stuff with Corzine is political posturing. Even the desire to move the Nets to Newark is a purely economic consideration - making the arena more profitable.

[BrooklynLove]

actually, the realistic solution here is for jcman to move to brooklyn. puzzle solved.

[JCMAN320]

I will not be detered. You cannot blame me for how I feel. I have such an emotional connection to this team.

My cusion was a cheerleader for them when they played at Rutgers while they waited for the Izod Center to be built in the early 80s and have heard great stories over the years, my first pro sporting event ever was a Nets game that my father took me too against the Cleveland Cavaliers when I was 7 ; it was the first and last time I saw one of the greatest Nets players, Drazen Petrovic, and my father's favorite picture of me is me in his old Nets cap. Also I have met many players and have many autographs and the games I have been to, I can't even begin to count. Some are most memorable, I was at one of Drazen Petrovics last game as a Nets before he died in a car accident, J-Kidd breaking numerous records, the great Pacer-Nets playoff series in 2002, Vince Carter's first game at home against Reggie Miller in front of a packed house, etc...

One great experience was over prom weekend. Me and my girl were down there with friends from prom in a hotel at Seaside Heights, which is a ritual right of passage for numerous teens in NJ and NY alike after senior prom, we were on the boardwalk hanging out a lil drunk, lol, and me and my girl at the time, still a Nets fan, sat down to play a wheel game (that wasn't all we did lol). They had TV's you could win, and on the TV was the Nets-Pistons playoff series Game 5 in 04 and the guy running it let us sit to watch the game. It went to triple overtime and the Nets won and as the game went on a sizeable crowd gathered and was cheering and groaning with the game and erupted in joy when the Nets won. Strangers were huggin eachother and high fiving. I called my father and he was excited, people on the boardwalk were cheering. Just another great memory!!

Also my parents got divorced when I was 6 and the New Jersey Nets were something that me and my father could always relate to and have in common. It was tough and this was something me and my father could do every weekend and made the transition easier, it also helped he only moved 2 blocks away. He use to make a special pizza every other Friday, the weekends I would spend with him, and it was a ritual pre-game fun thing we would do. My father and I have always had a great relationship, and some of, how ever big or small, I owe to the New Jersey Nets. He had season tickets in section 201 first row upper-deck from the 90s to the early 2000s when they went to the NBA Finals, then they got too expensive, so they were the team I was most attached to in my early youth.

I know they aren't going far, it's only Brooklyn, but they will be different. They won't be OUR team, the team that started here as the NJ Americans in 1967, the team New Jersey has supported for going on 30 years +, they will be just another NY team in a glitzy arena that will adopted by a people who have no deep connection to the team and are only rooting for them because they will be in Brooklyn. Especially if they change the "Nets" name. One possible I heard would be the "Brooklyn Knights" as a play on word for Brooklynites.

I will root for them if they go to Brooklyn, but will fight to keep them in New Jersey; and if they change the Nets name, all bets are off. They are a part of my history, part of my childhood

[aural iNK]

Atlantic Yards' Miss Brooklyn is slashed more than 100 feet in massive redo

By Jotham Sederstrom
Daily News Staff Writer

There she goes.

Miss Brooklyn, the Frank Gehry-designed signature tower of the controversial Atlantic Yards project, has been dumped.

Originally envisioned as a 620-foot residential and commercial tower, the newly named "B1" - or Building One - will be slashed to 511 feet and feature commercial office space only, Gehry said yesterday.

"My enthusiasm for Atlantic Yards has grown and grown until arriving at our current design, which works better with the surrounding area than it ever had before," said Gehry of new designs obtained exclusively by the Daily News.

"Miss Brooklyn, now called Building One, has been slimmed down and has become more festive, resulting in a very unique office building," he said.

"I've tried to give it some energy and excitement as it meshes with the arena design."

The 34-story structure - once expected to rise higher than the Williamsburgh Savings Bank - will now be dwarfed by it. The sleek Miss Brooklyn is replaced by an asymmetrical design that rises like a spiraling Lego structure, edges askew.

The glass-and-steel-framed building, seen as the centerpiece of the oft-stalled 22-acre project, will no longer house condos and instead will offer 650,000 square feet of office space, officials said.

The condos will be shifted to a different building or be built as rental units instead, said Forest City Ratner Executive Vice President MaryAnne Gilmartin.

Meanwhile, "B2," which will be completed first, is a red-and-pink-hued, 340-foot building featuring 350 market-rate and affordable apartments, which Gehry said "speaks to the residential fabric of the neighborhood."

The $4.2 billion project, slated to include 16 residential and commercial towers encircling a pro basketball arena for the New Jersey Nets, has seen its share of trouble since the plan was approved by state officials in 2006.

There's been a bevy of lawsuits waged by opponents.

In March, supporters and critics were shocked to learn that much of the project - including the former Miss Brooklyn - would be delayed because of a looming financial crisis.

Ratner officials now claim the constantly changing project is on track to be built by 2018.

Opponents still say that's an ambitious target date because there's no deal yet on financing or an anchor tenant.

jsederstrom@nydailynews.com

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-3.jpg

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-4.jpg

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-2.jpg

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-1.jpg

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-5.jpg

[Optimus Prime]

I really don't think Gehry does height well. Between this (if it ever happens, and I'm doubtful) and Beekman, I am pretty worried about his tower designs.

[ramvid01]

Not sure I like this new iteration of "Miss Brooklyn." Seems a lot more busier.

On a sidenote wasn't the building alread at 511 feet in the last redesign. The article makes it seem that it was cut another 100 feet.

[kliq6]

This project will not happen as it is planned my friend. Ratner will not put a dollar down on this and the more its delayed the more he is loosing. No chance of getting a majoe tenant for Ms.Brooklyn or Building 1 or whatever he is calling it now. We have over 12 million sf of towers planned for Manhattan that need to be rented first before brokers will push BK. There is just no real saving for a firm to move to BK as its still the same city with high taxes and higher energy costs. If its BK versus Manhattan, firms take Manhattan always and if its Bk versus Jersey City or Stamford they win

[NoyokA]

B1, B2, and the arena all look great. I wasn't a big fan of the previous iterations, but knew they weren't final. If this is the final design I am more than pleased.

[Alonzo-ny]

I quite like the new B1 but B2 is standard Gehry nonsense.

[BrooklynLove]

if you look really closely at the third rendering from the top you can see JCMAN entering the arena.

go brooklyn!!!

[Jasonik]

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-2.jpg

Less cowcatcher and more cowbell (http://www.youtube.com/watch?v=tKuv0Ebj59U)!

[ZippyTheChimp]

Moo.

[antinimby]

I see this as Gehry's response to Ratner's edict to lower the cost of construction.

Notice how the floorplans are really identical except now they're rotated every two floors?

Having the same floorplans reduces the need to build new forms, which reduces construction time and labor.

Pretty creative on the part of Gehry for reducing cost without resorting to making it boxy.

[ZippyTheChimp]

But the floorplans are different, since shaftways, etc will not be rotated.

[BrooklynLove]

AN - that's very perceptive. nice point.

could this possibly be a hint of what's going up at beekman?

[antinimby]

^ You better believe it.

But the floorplans are different, since shaftways, etc will not be rotated.I'm no construction expert (just piecing together what I read/learn from the Beekman thread) but some minor variations in the floorplan like the things you mentioned can't be avoided but the overall shape is the same, which is the most important factor in containing cost.

[Optimus Prime]

Miss B looks like the mutant child of 1 Chase Manhattan Plaza and Habitat 67.

http://www.nyc-architecture.com/LM/Pict0489.jpg

http://neatorama.cachefly.net/images/2007-01/habitat-67.jpg

[ZippyTheChimp]

but some minor variations in the floorplan like the things you mentionedOff my an inch, or off by a mile...

I also see lots of cantilevers; the loads have to be laterally transferred, and columns will not be in the same place relative to each floor. And it's not like a turning-torso, rotated around a common point.

I think it's completely different from the variation in floorplans at Beekman, which appear to be on the outer undulating walls.

[antinimby]

Formwork for columns are all the same and can be reused. Moving them in a different spot shouldn't be too much trouble.

Look at Miss Brooklyn, no two floors are alike in shape whereas the floors in B1 are very similar other than orientation.

Therefore, the same formwork can be reused, eliminating the need to create new formworks for each floor, thus reducing time and labor.

http://curbed.com/uploads/2008_05_Miss%20B-B1.jpg

[Citytect]

Ugh. Overall, it got even worse.

Building 1 has slightly improved proportions and the stacked irregular forms actually provide more visual movement than the wavy forms of the old design. The new arrangement also provides some nice breaks in the bulk of the tower while maintaining material continuity.

Everything else is appalling. The arena design is a disaster and looks like a cheap Gehry imitation. The curving planes are lifeless and unimaginative and look tacked on to what is essentially a typical arena. It no longer hides under the towers, but forces it's way in between.

The other building has to be a joke.

Hopefully none of this comes to fruition. It's a poor design and poor use of city resources.

[ZippyTheChimp]

Formwork for columns are all the same and can be reused.When the location of elements vary from one floor to another, everything changes - electrical and water cutouts in the floor, the way rebar is laid out. The plans change.

On identical floors, all the formwork is stacked in a particular way, and then moved up to the next floor, where it is unpacked and re-assembled like a puzzle.

I think B1 is more complex than Miss Brooklyn.

[Stroika]

I live in Prospect Heights. If the funding's there, I say, Welcome to the neighborhood, B1.

We'll have to see about getting you a nickname, though.

[antinimby]

I think B1 is more complex than Miss Brooklyn.You really think Gehry went through all that trouble to redesign the entire tower, to make it even more complex to build?

That doesn't sound like the Ratner I know.

[ZippyTheChimp]

The cost of the building may be less for other reasons. Or maybe what we're seeing hasn't been "value engineered" yet.

It's just that the most efficient and least costly way to build is straight up post-and-beam with repetitive floors. The floors in B1 may look the same, but when they are stacked up in an offset pattern, transferring the loads down to the ground becomes more complex.

We may need Ninjahedge here, if he promises to keep the post under three feet.

[NoyokA]

Miss B looks like the mutant child of 1 Chase Manhattan Plaza and Habitat 67.

Two great modernist buildings. It creates a great composition with the curves of the stadium.

[antinimby]

^ Yeah, but I fear these will age poorly. They'll look like a joke a few years down the road.

Why doesn't he go more with the wavy type of forms like IAC instead of these blocky forms here (and elsewhere).

We may need Ninjahedge here, if he promises to keep the post under three feet.That's not even fair. Ninjahedge will side with you. JCMan is the impartial one we need here. ;)

[Stroika]

I think these could look horrible in a few years. That said, there is a certain timeless, El Greco-esque quality to them (B1, really; not so much B2), owing to the grimy shading the models have that gives them an appearance of being previously aged. They almost look like a hilltop Spanish or Italian village. This may sound ridiculous, but I think the more intentionally grimy/LES-y these buildings are, the better they'll look down the road.

With that said, the only innovative building that's proposed for the city that I would bet will age well is Nouvel's Tower Verre for the MoMA lot.

[BrooklynLove]

I live in Prospect Heights. If the funding's there, I say, Welcome to the neighborhood, B1.

We'll have to see about getting you a nickname, though.

Brooklyn Nexus

[Optimus Prime]

Everything else is appalling. The arena design is a disaster and looks like a cheap Gehry imitation.

The arena is actually the only one of the three I like, but I do think it is too big, bigger than before.

Brooklyn Nexus

Eh, it's been done. (http://www.barnard.edu/nexus/about/index.html)

[BrooklynLove]

Atlantic Apex

[antinimby]

Silly wabbits, there's already a perfectly fitting and well-known name: Atlantic Yards. ;)

[fioco]

I’m surprised by the negative comments. This redesign is truly inspired. As La Pedrera was Gaudi’s imaginative response to flats and shops in Barcelona, this redesign is Gehry’s creative response to mixed-use development in the early 21st century.

figure 3:
http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-3.jpg

Upon viewing the new pictures, I immediately thought PICASSO. No need to grab for your spectacles; this isn’t double vision, but triple- and quadruple-vision. We view several perspectives from the same vantage point. Figuratively, the front, the sides, and some of the roof are seen from our stationery position. We stand still and the buildings move around us.

ENERGY

figure 5:
http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-2.jpg

What a fitting companion for the nearby BAM Cultural District! The redesign’s chaos and energy also bring a surprising order to the whole. Turn off your interior critic, stand back and gaze without attempting any analysis. The strong sense of line will emerge as will the logic of its order.

Instead of being cast adrift in a sea of parking lots, as most arenas are, the previous design blended it into the urban fabric of Miss Brooklyn’s skirts. But now all characters have their own voice and personality. Office tower, arena, and residential buildings are easily identifiable. This mix of personality within the larger development is more authentic to New York and especially to Brooklyn where her conversations, foods and amusements -- drawn from around the world – are remade into the indubitably Brooklyn experience.

Bravo, Gehry. This is a tour-de-force for Brooklyn and a gift for all New Yorkers. Surely a company hoping to brand itself as forward-thinking, individualistic and ahead of the curve will welcome the chance to have such an iconic structure for its offices. Bruce Ratner is taking a gamble and that gains my respect.

[Stroika]

Upon viewing the new pictures, I immediately thought PICASSO.

I agree. The front building ("B1") reminds me of Guernica. I'm not sure if you want your home (or, it seems, office) to look like a massacre, but B1 is very intriguing. B2 is a bit sketchier, but I'd be happy to see this get built.

[ZippyTheChimp]

Bruce Ratner is taking a gamble...You mean gambling with house money.

The only worthwhile building isn't getting built for quite a while, maybe never.

Valet parking for the arena.

[BrooklynLove]

zippy - how bout we drink some forties on my stoop and then roll to a nets game? i'm buying.

[GVNY]

With the signs looking negative for the Atlantic Yards project, hopefully a realization of the plan I presented earlier in this thread will be realized.

[Alonzo-ny]

zippy - how bout we drink some forties on my stoop and then roll to a nets game? i'm buying.

Can i get in on that?

[BrooklynLove]

Can i get in on that?

of course.

[ZippyTheChimp]

zippy - how bout we drink some forties on my stoop and then roll to a nets game? i'm buying.Been a Knick fan too long to consider the Nets, but lately, sitting through it buzzed is a requirement.

[BrooklynLove]

Been a Knick fan too long to consider the Nets, but lately, sitting through it buzzed is a requirement.

we can just skip the nets game part then

[Alonzo-ny]

Now we're getting somewhere!

[TREPYE]

Nice job by Gerhy once again. It may be too chaotic for those who are like things a lil more organized, but for me visually stimulating is key and it passes that test with flying colors. It sets/slants backs in such an fascinating way (something i dont think I have ever seen in a tower) and the rotations are a great touch. The base is awesome.

If the red building is clad in brick then it really commemorates one of the most prevalent facades in Brooklyn; hopefully it is the case.

The one thing I am not crazy about is that the arena looks a bit too jumbled- like, over the top- he should make it a lil more fluid to give the shape some substance- its hard to make out its form.

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-2.jpg

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-3.jpg


Nonetheless hopefully this goes through. Nice job Gerhy!;)

[Stroika]

AY just can't catch a break. This is from NY Mag. Looks like the political appointee the NYT implied was sent in to replace the PA's first honest broker ever (http://www.nytimes.com/2008/05/07/nyregion/07about.html?scp=3&sq=port+authority&st=nyt) has decided he doesn't like the new design. Three cheers for bureaucrats' taste. Hip, hip...

New Port Authority Chief Not So Sure About This Atlantic Yards

Chris Ward, due to take over the Port Authority this month, suggests to us that he thinks Bruce Ratner should consider recruiting architects other than Frank Gehry for the Atlantic Yards. “Flatbush and Atlantic is a totally underused area and a major transportation hub, and I hope we don't lock ourselves into a design that does not allow other architecture or public space,” says Ward. That design is entirely Gehry's; even after Ratner admitted his multi-tower vision might not attract financing, public officials have kept the architect front and center. “Bruce, with his optimism, is probably feeling that he doesn't have to worry about those contingencies,” Ward continues. “But it would be worthwhile to pay attention to the real-estate risks there.” And, yes, he called him "Bruce": Ward worked under Ratner when the he ran Consumer Affairs in the Koch administration. Still, this warning should hearten the project's opponents: Ward will have a lot of influence over state spending if the developer needs a cash influx. —Alec Appelbaum

http://nymag.com/daily/intel/2008/05/new_port_authority_chief_not_so_sure_about_this_at lantic_yards.html

[BrooklynRider]

Wow! Look at that picture. I wonder if they fired the guy who dropped the model before they could snap a few pictures of it intact.

[antinimby]

^ Seems like you're not the only one with that sentiment.

From a few days ago but still funny nevertheless...

Give heave-ho to 'Lego' building, say Atlantic Yards critics

http://www.nydailynews.com/img/2008/05/05/amd_atlantic-yards.jpg


BY JOTHAM SEDERSTROM
DAILY NEWS STAFF WRITER
Tuesday, May 6th 2008 (http://www.nydailynews.com/ny_local/brooklyn/2008/05/06/2008-05-06_give_heaveho_to_lego_building_say_atlant.html), 4:00 AM

Call it a scrap heap, a life-size land of Legos or, as one critic described it, a post-apocalyptic nightmare - just don't call it fit for Kings County.

One day after the release of scaled-back new designs for the controversial Atlantic Yards project, New Yorkers took a bite out of the spiraling, Lego-like remake of the signature 620-foot Miss Brooklyn building.

"You're kidding, right?" said Anthony Lomastro, 62, when shown renderings of the wild-eyed, glass-and-steel skyscraper, now called Building One.

"That looks like it's falling down instead of going up. It's awful."

The building, which is conceived as a centerpiece to the $4.2 billion project, was designed by architect Frank Gehry to calm critics who feared an earlier version would overshadow the nearby Williamsburgh Savings Bank building.

Although a 110-foot height reduction was announced by developer Forest City Ratner in 2006, the new designs were completed recently and obtained exclusively by the Daily News.

They were front and center in conversations yesterday among many Brooklynites, who called the tower a disaster.

"It looks ugly," said Joseph Charles, 19, of East Flatbush, who said he supports the project. "It looks like scrap metal. The whole NBA thing is good, but not like this."

Crown Heights resident Brian King professed his support for the ambitious project, insisting the 22-acre complex promised to bring needed jobs and basketball. But the architecture? Fat chance, said King.

"It looks like milk crates," said King, 36, before name-dropping another building with similar features. "There's a building on the West Side that looks like that - but better. This one looks like ... a post-apocalyptic Earth or something."

Not everybody was sour on the building, which Forest City Ratner officials say will now house only office space as opposed to a mix of residential and commercial space.

"Why not? It looks fun," said Prospect Heights resident Colin McCabe, 31.

"I could see this being like the Empire State Building, with all the lighting schemes. You could light it up at night, and it could be part of the skyline."

Spokesmen for Gehry did not respond to calls.

© Copyright 2008 NYDailyNews.com

[BrooklynLove]

i was by the yards yesterday - carlton ave bridge demo is underway and wards bakery is coming down in a big way now from the dean street side.

[Jim856796]

That silver-coloured tower looks somewhat ugly and very impossible to construct. I hope they redesign the 620-foot tower to a much simpler design. I also hate the design for the new arena and the red-coloured tower.

[BrooklynRider]

It looks like Fresh Kills with windows.

[JCMAN320]

Nets bolster Brooklyn move with new sponsors

by Maura McDermott/The Star-Ledger
Monday May 12, 2008, 7:22 PM

The Nets are shoring up the financing of their planned move to Brooklyn, with an estimated $100 million in sponsorship deals announced today.

The new sponsors include Anheuser-Busch, Izod and Foxwoods Resort Casino, said Barry Baum, a spokesman for the team.

The other new "founding partners" are security system maker ADT; medical insurance company EmblemHealth; and international real estate giant Cushman & Wakefield.

Last year, the Nets signed a sponsorship deal with Seattle soft drink maker Jones Soda, giving it exclusive soft-drink advertising rights in the Brooklyn arena.

Each five- to 10-year deal is estimated to be worth between $1.5 million and $5 million annually. All the sponsors except Anheuser-Busch get exclusive advertising rights in their category, according to the team.

The Nets' chief executive, Brett Yormark, has said he aims to sign about 15 such "founding partner" sponsorship deals. Widely known for his marketing skills, Yormark brokered last year's $7 million naming rights contract for the Izod Center in the Meadowlands, formerly sponsored by Continental Airlines.

Already, the Brooklyn arena's sponsors are picking up more than half the cost of the $950 million facility, according to the team's announcements. Last year, Barclays Bank agreed to pay $400 million for naming rights.

The Brooklyn arena's prospects are being closely watched by Essex County officials, who hope to persuade the Nets to move to Newark's Prudential Center instead. Mayor Cory Booker and the Prudential Center's developer, Jeff Vanderbeek, have been trying to put together a group of investors to buy the Nets and keep them in the Garden State.

Nets owner Bruce Ratner insists the Brooklyn venue will open in 2010, although significant parts of his $4 billion Brooklyn development plans have been delayed -- in some cases indefinitely -- by troubles in the real estate market.

[BrooklynLove]

http://www.sportsbusinessjournal.com/article/58939

Nets add 6 founding partners for Barclays
By TERRY LEFTON (tlefton@sportsbusinessjournal.com)
Staff writer

Published May 12, 2008 : Page 03
The Nets have more than 100 million reasons to stay on course and move to Brooklyn.
While the organization’s Barclays Center project is mired in legal delays and reports surfaced recently that New Jersey officials were making a run to have the team move to the Prudential Center in Newark, Nets Sports & Entertainment President and CEO Brett Yormark said last week that he expects to break ground in the fourth quarter of this year and open the building in time for the 2010-11 season.
And as evidence, Yormark said the team has signed six new founding partners that join previously announced Jones Soda, representing more than $100 million in sponsorship commitments in the new building. The founding-partner deals are all five to 10 years in length and range from $1.5 million to $5 million a year, Yormark said.
Most are existing Nets sponsors: Anheuser-Busch, Cushman & Wakefield, MGM Grand/Foxwoods, ADT, Emblem Health and Izod, which has naming rights to the Nets’ current home court at the Meadowlands. Barclays is the naming-rights sponsor for the planned $950 million arena, which is supposed to host more than 200 events a year.
Yormark said that many of the partners are architecturally integrated within the building, plazas or clubs. For example, MGM Grand will own a club, ADT will have branding on a plaza, Cushman & Wakefield will name a theater, there will be a Jones Soda Shoppe, and Izod will brand the team stores.
Aside from that, the Nets are offering founding partners something they are calling “street to seat brand domination.”
“We’ll have very little static signage,” Yormark said. “From the street or subway to the marquee and inside the bowl, only one brand will be visible at a time. The marketers we are talking to want fewer relationships that are more dominant. [Building architect] Frank Gehry did not want to overcommercialize this building, but he wanted to provide ownership for those brands that want to get involved.”
The Nets have capped founding partners at 14. Yormark said telecom, armed services, appliances, wine and spirits, and insurance sponsors should all be wrapped up sometime this summer.
Incremental to the founding partnership fees, many of the new sponsors will support what the Nets are calling a “construction activation platform” with signage, countdown clocks and other media in which partners will be identified.
“We’ll be marketing the heck out of the building even before it is being built,” Yormark said.

[Publius]

Some new renderings on this site:

http://www.barclayscenter.com/venue/venue_5.shtml

It appears that the exterior of the arena may not be the normal Gehry smooth surface, and there is what may be the first rendering of the Urban Room (called the ADT plaza).

The interiors look chaotic but fairly cool.

[BrooklynLove]

awesome

[antinimby]

Well then, let's put them up shall we?


The Entrances:

http://www.barclayscenter.com/images/photos_renderings_5.jpg http://www.barclayscenter.com/images/photos_renderings_6.jpg

http://www.barclayscenter.com/images/photos_renderings_7.jpg http://www.barclayscenter.com/images/photos_renderings_8.jpg

http://www.barclayscenter.com/images/photos_renderings_9.jpg http://www.barclayscenter.com/images/photos_renderings_10.jpg

http://www.barclayscenter.com/images/photos_renderings_11.jpg http://www.barclayscenter.com/images/photos_renderings_12.jpg

[antinimby]

The Clubs, Restaurants and Concourse:

http://www.barclayscenter.com/images/photos_renderings_13.jpg http://www.barclayscenter.com/images/photos_renderings_14.jpg

http://www.barclayscenter.com/images/photos_renderings_15.jpg http://www.barclayscenter.com/images/photos_renderings_16.jpg

http://www.barclayscenter.com/images/photos_renderings_17.jpg http://www.barclayscenter.com/images/photos_renderings_18.jpg

http://www.barclayscenter.com/images/photos_renderings_19.jpg http://www.barclayscenter.com/images/photos_renderings_20.jpg

[antinimby]

The Luxury Suites:

http://www.barclayscenter.com/images/photos_renderings_21.jpg http://www.barclayscenter.com/images/photos_renderings_22.jpg

http://www.barclayscenter.com/images/photos_renderings_23.jpg

http://www.barclayscenter.com/images/photos_renderings_24.jpg http://www.barclayscenter.com/images/photos_renderings_25.jpg

[BrooklynLove]

this is pimped. ratner pimped.

[Stroika]

Yeah, "pimped" is about right -- the stadium is one big Barclay's whore, huh? I dig the design and as a local hope this goes up, but they really didn't miss many opportunities to throw the Barclay's insignia up, did they? Do they even have much of a presence at all in the US?

[Stroika]

I just caught sight of this, which is priceless. From the FAQs section of the Barclay's Center page:

-Where is the new arena located?

The historic Frank Gehry-designed Barclays Center will be located at the intersection of Flatbush and Atlantic Avenues, an area in close proximity to the Brooklyn Botanical Garden, the central branch of the Brooklyn Public Library, and the Brooklyn Museum. It is within easy walking distance from several neighborhoods, such as Park Slope and Fort Greene. The new Arena and development will add a dynamic, diverse, and urban cultural center to the area.

http://www.barclayscenter.com/venue/venue_6.shtml

[BrooklynLove]

Do they even have much of a presence at all in the US?

not really in retail banking - that's in Europe. they do have a large office in NYC, which is more investment banking etc. however, the fact that they're paying for this brand exposure should give you an indication of their future plans for a retail presence in the US.

[STEAMWORKSNYC]

After seeing these renderings , I will not be surprise if this has a domino effect on our buddy Mr Dolan to rethink his plans. The MSG renovations are no where near this quality.The only way he can come close is by moving.;)

[ramvid01]

^^ If only Dolan actually cared for the design of his building, or anything else aside from his bottom line for that matter...

[BrooklynRider]

After seeing these renderings , I will not be surprise if this has a domino effect on our buddy Mr Dolan to rethink his plans. The MSG renovations are no where near this quality.The only way he can come close is by moving.;)

Actually, MSG hasn't offered any rendering that would becomparable to Barclay's. Ratner is releasing images of the Barclay luxury suites and hospitality areas. MSG has released renderings of the public lobby. Two completely different areas. Luxury suites would be more stylized than the lobby in both buildings.

Gehry is best in small doses. I think Ratner is OD'ing on the guy and "Gehry" is suffering from over exposure at this point.

[lofter1]

Gehry has no sense whatsoever as to how a large mass of buildings should sit within a city.

All I can say is "Poor Brooklyn" http://www.wirednewyork.com/forum/images/icons/icon13.gif

http://www.barclayscenter.com/images/photos_renderings_5.jpg

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-3.jpg

[MidtownGuy]

I'm starting to thing Gehry and his assistant with the cut paper pieces have gone screwy in the head. Or they hate Brooklyn. Why can't he come up with attractive towers here??? Every proposal has been crap ugly and I'm starting to wonder if he is capable of this job. Just make a beautiful tower, damn it! It isn''t so hard. His trademark piles don't seem to translate well vertically...he needs to simplify and understand what a tower is.

[BrooklynRider]

Besides being a crappy design, the approach to this from any vantage point on the ground is going to kind of the reverse of the Wizard of Oz magic. I think people are going to back away - actually run away - when they see it. No "merry ol' land of Oz here".

Kind of makes one wonder what Beekman Tower is going to look like.

[scumonkey]

http://www.nydailynews.com/img/2008/05/05/gal_atlantic-yards-3.jpg
They look sooo familiar to me....
now let me think.....
Oh YEAH!

Now I remember...
http://i211.photobucket.com/albums/bb276/scumonkey/hamburg-bombing3b33646r.jpg

http://i211.photobucket.com/albums/bb276/scumonkey/3062862.jpg

http://i211.photobucket.com/albums/bb276/scumonkey/WWII_MOUT_BerlinAug45.jpg

SNAP!

[antinimby]

Skyline-wise, I agree that it's not very attractive but you guys have to admit that from the streetlevel (and the interiors), it does look very nice:

http://www.barclayscenter.com/images/photos_renderings_5.jpg http://www.barclayscenter.com/images/photos_renderings_9.jpg

[kz1000ps]

Gehry is best in small doses.

Completely agree. Having explored the insides of his Stata Center at MIT, I see many similarities in the outfitting of corridors here as with that project, that being the comical overuse of bold colors and abstractly angled walls/ceilings.

So it's more of the class clown Gehry we know and don't exactly love. How long am I expected to laugh at this same old joke? I find it incredibly superficial, and the conclusion I keep coming to is that he's a hack. I don't truly think he's an across-the-board hack, as there are plenty of projects of his I appreciate, but stuff like this leaves me puzzled, and perhaps a wee bit irate ;)

The exterior.. I keep looking at the renderings for any redeeming value -- some detail or overall impression that will save grace -- but it has yet to come.

[NYC4Life]

From: New York Times

http://www.nytimes.com/2008/06/13/nyregion/13stadium.html?_r=1&ref=nyregion&oref=slogin

A Question Mark Looms Over 3 Expensive Projects


http://graphics8.nytimes.com/images/2008/06/13/nyregion/Stadium1.span.jpg
Chang W. Lee/The New York Times

ARENA SITE The planned $950 million Barclays Center, an 18,000-seat basketball arena for the Nets and the centerpiece of the Atlantic Yards project. Ineligibility for tax-exempt financing would significantly increase its cost.

By CHARLES V. BAGLI
Published: June 13, 2008

More than two years ago, the Bloomberg administration came up with an aggressively creative way to use tax-exempt bonds to finance two of the most expensive stadiums in the world, one for the Yankees in the Bronx and another for the Mets in Queens. The Internal Revenue Service initially approved the use of the bonds for the ballparks, but quickly issued a proposal in 2006 to tighten the rules governing the use of tax-exempt bonds so that it would be more difficult, and perhaps impossible, for this kind of financing to be used again by profitable, private enterprises like professional sports teams.

Now state and city officials say the proposed rules are jeopardizing what is planned to be the city’s next big sports palace: the $950 million Barclays Center, an 18,000-seat basketball arena for the Nets that is the centerpiece of the huge residential and commercial complex in Brooklyn known as Atlantic Yards. The project’s developer, Forest City Ratner, says it plans to break ground on the arena this fall and has long expected to use tax-exempt financing to reduce its borrowing costs by tens of millions of dollars.

Barclays Center is expected to be the most expensive arena in the world, and the lack of tax-exempt financing would substantially increase its cost. The $4 billion Atlantic Yards project already faces delays because of litigation, a sluggish economy, the lack of commercial tenants and the reluctance of lenders to finance large real estate developments. “We’re working to address tax-exempt financing because the proposed regulations will have a significant impact on projects planned in the city,” said Avi Schick, chief executive of the Empire State Development Corporation, which is working with the Atlantic Yards developer.
State and city officials, along with the developer, have been lobbying the Treasury Department in Washington either to block the rule change or, more likely, to provide waivers for projects that had been in the development pipeline before 2006, which would include the Yankees, Mets and Nets.

If adopted, the I.R.S. rule would apply to all tax-exempt bonds issued after February 2007. In an interview this year, Bruce C. Ratner of Forest City said that he hoped to raise about $800 million through tax-exempt bonds. He acknowledged that “the tax changes would make it more difficult” to do the project, although he was still optimistic that he could break ground for the arena this fall. The changes by the I.R.S. would also pose a problem for the new Yankee Stadium, nearing completion just north of the team’s historic home in the Bronx. The Yankees have already raised nearly $1 billion for the new stadium, including $943 million in tax-exempt bonds.

But to finish the project, the team has been planning to raise an additional $250 million to $350 million for the stadium, much of it through tax-exempt financing.
“The proposed I.R.S regulation has removed an important tool for a number of key important economic development projects, including the Yankees and Nets stadiums,” said Seth W. Pinsky, president of the city’s Economic Development Corporation. “We are working with the state in Washington to receive relief from the I.R.S. regulation.” Randy Levine, president of the Yankees, said the team hoped to get a waiver from the new regulation, which was conceived after his project received approval in 2006. He said it would be unfair to change the rules midstream for the Yankees, Mets or Nets. “The whole idea of tax-exempt financing is to encourage economic development,” he said.

The bonds were issued by the city, but the Yankees are obligated to make the annual debt payments, which would be about $56.7 million, starting in 2010. The city’s Independent Budget Office has estimated that the team would save about $190 million over the 40-year life of the bonds. So far, the Mets have raised $612.9 million, including $547.35 million in tax-exempt financing, for what will be called CitiField, a new stadium reminiscent of Ebbets Field, where the Brooklyn Dodgers played. Both stadiums have received substantial subsidies from the city and the state, including an investment of $204 million in Yankee Stadium and $166.1 million for CitiField. In addition, the city and the state are spending well over $300 million on new parking garages and new parkland and ballfields to replace what was taken for the new Yankee Stadium. But the proposed changes in the I.R.S. regulations are far more significant for the Nets and Atlantic Yards, which has not yet issued any bonds or started construction. Mr. Ratner bought the Nets in 2004 and planned to move them to Brooklyn from New Jersey as part of a 22-acre development project, which is to include more than 5,000 apartments, at the intersection of Flatbush and Atlantic Avenues.

Since then he has had to deal with a lengthy public approval process and significant opposition from neighborhood and civic groups, as the cost of the arena rose to nearly $1 billion from $637 million. When the project was approved in December 2006, Mr. Ratner optimistically indicated that its first phase — the arena, an office tower, a retail complex and three residential buildings — would be completed by 2010. But under a financing agreement completed nine months later, he was given 12 years to complete the first phase. The economic picture has changed significantly. This year, Mr. Ratner acknowledged that he would not begin construction of the office tower, once known as Miss Brooklyn, until he had an anchor tenant, which could take years. He did say that he hoped to complete the arena in 2010, along with the first residential building.

Forest City Ratner was the development partner for the new Midtown headquarters of The New York Times Company. Real estate executives say that if Mr. Ratner cannot get tax-exempt financing for the arena, it will make the project significantly harder. Joseph DePlasco, a spokesman for Forest City Ratner, said on Thursday that the company remained confident that it would break ground on the arena this fall.

Richard Sandomir contributed reporting.

[Derek2k3]

I hope they get this going soon. As ill-conceived his architecture may seem, I'm sure the buildings will be knockouts. The fact alone that there are no high-rises on the planet that look similar to these (unless he copies himself again), will make them an attraction.

Whether his projects make people nauseous, dizzy, wet, blind; Gehry's constructions always grabs attention. He designs an architecture that provokes and is memorable. If this version of Miss Brooklyn is built it'll be nothing short of iconic. Surely when the arena opens half of us will be there inside just to criticize.

Since when has an 8 story office building in Manhattan gathered as much attention as IAC? Gehry is the reason this project is more interesting to watch unfold than a similar development like Queens West. Something refreshingly jarring is exactly what this borough of brownstones needs.

[ablarc]

^ Well and accurately put, Derek. Totally agree.

[NYC4Life]

From: The Real Deal

http://ny.therealdeal.com/articles/new-legislation-would-rein-in-atlantic-yards

http://s3.amazonaws.com/trd_three/images/32892/ay_articlebox.jpg (http://ny.therealdeal.com/assets/32892) Atlantic Yards


New legislation would rein in Atlantic Yards

Updated On 06/16/08 at 04:23PM

By Jovana Rizzo

Brooklyn politicians and civic groups proposed legislation today to create a trust that would impose more public control over the construction of Forest City Ratner's Atlantic Yards mega-project in Brooklyn.

The bill, dubbed the Atlantic Yards Governance Act, is modeled on the Hudson River Trust Act of 1998, which created a public benefit corporation that oversees the park along Manhattan's western waterfront.

"The Atlantic Yards development is a public project built on public land with public money, therefore it is important to maximize the amount of public involvement," Democratic Assemblyman Hakeem Jeffries (http://atlanticyardsreport.blogspot.com/2008/03/deeply-troubled-jeffries-says-its-time.html), who is co-sponsoring the bill, told The Real Deal. "The Atlantic Yards Development Trust simply replicates the organizational structure every other development project operates under."

Democratic Assemblywoman Joan Millman, a co-sponsor, cited the turnover at the state's Empire State Development Corporation (http://ny.therealdeal.com/articles/buffalo-banker-named-state-s-economic-development-chief) as a reason to give the project a "clear and firm leadership structure."

The bill would create an Atlantic Yards Development Trust, a committee of 16 officials appointed by the governor, mayor, borough president and other authorities. The committee would oversee the project's architectural design guidelines, work with state and city agencies concerned with environmental issues, develop policies about transportation and other concerns, and examine any project changes.

A council of local residents would also be created to advise the Trust, with members appointed by local elected officials.

Scrutiny of Atlantic Yards (http://ny.therealdeal.com/articles/investors-urge-ratner-to-ditch-brooklyn-for-newark-arena) has intensified following Ratner's recent decisions to downsize (http://ny.therealdeal.com/articles/gehry-s-miss-brooklyn-shrinks) the project and delay construction of a centerpiece tower until an anchor tenant (http://ny.therealdeal.com/articles/despite-rezoning-a-net-loss-of-office-space-in-downtown-brooklyn) is secured.

Forest City Ratner refused to comment.

[ZippyTheChimp]

If IAC had been a problem, it would've been because of Barry Diller, not Gehry.

Similarly at Atlantic Yards - it's Ratner, not Gehry.

[MidtownGuy]

It seems they show a different rendering every time and it has nothing to do with most recently released. :confused:
I'm not even sure anymore what the heck the towers are supposed to look like.:confused:

[antinimby]

That's because the images/pics/renderings that come with The Real Deal articles are not always accurate.

The information in their articles are reliable but not the images.

[NYC4Life]

From: Globest.com

Last updated: June 20, 2008 09:37am
Atlantic Yards Opposition Seeks Further Approval

http://www.globest.com/newspics/nyc_newatlanticyards2.jpg
Atlantic Yards

BROOKLYN, NY-The proposed $4-billion Atlantic Yards project has had many hurdles presented in a number of court challenges (http://www.globest.com/news/1086_1086/newyork/167961-1.html) over the past year, and opposition to the project has continuously called for a "time out," (http://www.globest.com/news/1151_1151/newyork/170521-1.html) as GlobeSt.com previously reported. On Thursday, one such opposition group, Develop Don’t Destroy Brooklyn, and its attorney Jeffrey Baker of Young, Sommer, Ward, Ritzenberg, Baker & Moore LLC, sent a letter to the Public Authorities Control Board regarding the "increase in cost" of Forest City Ratner Cos.' Atlantic Yards Barclay's arena and the development project as a whole.

http://www.globest.com/newspics/nyc_atlanticyards4.jpg
Atlantic Yards

The letter demands that the PACB--comprised of Gov. David Paterson, Speaker Sheldon Silver and Majority Leader Joseph Bruno--exercise its "statutory obligation to approve the financing and construction of the project." When asked about financials surrounding the project, a Forest City Ratner spokesperson tells GlobeSt.com that they have "no comment at this time," and also says that they have no comment regarding the DDDB letter. DDDB legal director Candace Carponter says that "we fully expect the PACB and Gov. Paterson to agree that the change in Atlantic Yards financing needs a new approval decision, based on the need for sound and prudent fiscal policy."

In the letter, DDDB says that as part of its approval process, "the PACB is directed to determine that there are commitments of funds sufficient to finance the acquisition and construction of the project." The letter says that on Dec. 20, 2006, the PACB adopted Resolution No. 06-UD-953 approving the Atlantic Yards Project submitted by the Empire State Development Corp. "The project identified as the subject of the resolution included the Barclay’s Arena with identified financing of $637.2 million. In considering the request from ESDC, the PACB relied in large part upon a Dec. 2006 report from KPMG LLG Economic and Valuation Services, which evaluated the financial viability of the arena. Based upon the expectation that construction of the arena would cost approximately $637 million, KPMG found that the projected return on investment would support the development and maintenance cost."

The letter went on to say that since that time the estimated cost of the arena, as well as other elements of the Atlantic Yards proposal, has increased, "either as a result of increased construction costs or initial underestimation. As of March of this year the estimated cost of the arena (http://www.globest.com/news/1127_1127/newyork/169553-1.html) itself, according to Forest City Ratner, has increased to $950 million. This represents a 50% increase over the original estimate," the letter said, although when provided these figures, FCRC did not return confirmation.
The letter states that the "source of the nearly $320 million of additional construction costs has not been identified….Therefore, given the major change in the assumptions underlying PACB’s 2006 approval, and the lack of an identified source for additional needed funds, we believe it is mandatory that the PACB reconsider the ESDC funding resolution before ESDC undertakes any binding commitments for the project." The letter asks that the PACB review the matter within 10 business days.
Bruce Ratner, chairman and CEO of FCRC, recently admitted that construction hasn't happened as fast as he would have liked on the project, but has also pointed out that FCRC has had to overcome the hurdles presented in court challenges, which pushed "us into a time when the economy has slowed (http://www.globest.com/news/1121_1121/newyork/169317-1.html), and both financing and tenant commitments are more challenging to obtain," he said. "We will build Atlantic Yards--and deliver on all of our commitments to Brooklyn."

[BrooklynRider]

Holy Crap! What it that second image? :eek: I'm friggin mortified. Hideous.

[NYC4Life]

LOL...that is the Barclays Center arena for the Nets.

[pianoman11686]

^^Looks like a Gehry re-clad of MSG. With a matching Gehry re-clad of 10 Penn Plaza. Yuck.

[MidtownGuy]

:eek:If that's what it's going to boil down to, fuhgeddaboudit! The rusty tracks and weeds are prettier.:rolleyes:

[NoyokA]

Um, I hope you all realize that image is a sensationalist (and very innacurate) image created by a NIMBY group and has nothing to do with Frank Gehry or anyone involved at Forest City Ratner.

[ablarc]

Lies and propaganda. Goebbels said if you put it out there in a public forum, 40% of the population will believe you, no matter what you say.

Q.E.D. above.

[lofter1]

... that image is a sensationalist (and very innacurate) image created by a NIMBY group ...

Is there proof for that?

It has been indicated by Ratner et al that AY might move forwar piecemeal and that the arena might be built first & separately from the tower(s) & most of the residential buildings. It makes sense that there would be renders of such a plan.

Are folks thinking that just because the render is so butt ugly that neither Ratner nor Gehry could be responsible? Think again ...

[ZippyTheChimp]

That image was pulled from an article about Ratner not making a commitment to build the main tower. The building was PSed out of the old plan with a sarcastic (but accurate?) comment about a parking lot.

[Optimus Prime]

The photo/drawing you're talking about was done by the Municipal Arts Society. If you go to http://atlanticlots.com you can see why it was done that way. The buildings are supposed to be simplistic massing renders, they are in no way supposed to be true to Gehry's design. The main purpose is to show the layout of the site if Ratner builds to his short term plans and then gets delayed.

[Tectonic]

This on going Atlantic Yards drama is just very ridiculous. Can't seem to figure out which is worse parking lots or what's there now.

[lofter1]

Oh, I've no doubt we're all in agreement that it's much better to run folks out of their homes for the possibility of a plan.

Then tear down the buildngs and roll out a BIG paved parking lot :cool:

[antinimby]

Lies and propaganda. Goebbels said if you put it out there in a public forum, 40% of the population will believe you, no matter what you say.I believe that. It seems there are always those that are easily led.

That's why folks like Osama bin Laden, David Koresh and others like them over the years have no trouble finding and brainwashing their followers.

[Tectonic]

Oh, I've no doubt we're all in agreement that it's much better to run folks out of their homes for the possibility of a plan.

Then tear down the buildings and roll out a BIG paved parking lot :cool:

:D

[Derek2k3]

The opposition is the cause of most of the delays and the resulting increase in costs and now they file a lawsuit stating the project is not fiscally feasible and cannot be built within the promised timeframe. Redunkulous.

[lofter1]

crock ^

Ratner never had the full financing in place to begin with.

He just kept asking for more tax breaks and hoped the package would fall in place.

[ablarc]

I bet you're both right.

[antinimby]

I don't see how this is even up for debate. This whole thread is filled with articles upon articles dating back to at least 2005 of lawsuits and courtcases brought on by DDDB, Daniel Goldstein and others, all of which were dismissed.

It was obvious to everyone that their intentions were to delay and in hindsight, it has worked because unlike now, back in 2005, 2006 and the first half of 2007, the real estate market was still very strong and loans were easy to secure.

[BrooklynLove]

the project will get done. it's just going to take longer and cost more than it would have without all the resistance caused delays. it's a shame that a selfish minority interest, without any recourse, can tax our already stretched court system with baseless lawsuits that in the end result in higher expenses for a publicly funded project.

[ZippyTheChimp]

I bet you're both right.That seems fair enough.

With references to Nazism, Islamic terrorism, and Christian cultism being made; can we at least equate Ratner with the Commies.

[ablarc]

^ ?

[ZippyTheChimp]

If you're questioning the relationship between Ratner and Commies, I'm sorry, but the good despots were already taken.
I was illustrating another favorite tactic of Dr Goebbels - demonizing a particular group and making them responsible for all the problems.

I couldn't care less about Goldstein, DDDB, and their motives. The scope of the issue is way beyond them.

I was going to include Gehry and Albert Speer, but good old Frank doesn't deserve such an insult, even to stretch a parody.

[BrooklynRider]

It still seems to be the contradiction in the argument that this is an incredibly important and critical piece of development. If that is so, why are they givig it to Ratner? He really has not developed anything of this scope. If he were a real player, does it not seem odd that he didn't bid on Hudson Yards. Is it not unusual that all of the major developers in the city passed on even submitting a bid on this site?

Without reviving too much of the old debates here, it does seem that the project is languishing because, without competition, Ratner did not have to respond to the pressures and challenges of proving that funding was in place and the project was economically viable. There were no competitors to really press the government officials and public officials from different points and perspectives.

Ratner had a cake walk and the whole thing unraveled under scrutiny and the actuality of the situation in comparison to the promises.

He is not a developer with credibility or track record to develop on this scale. The Frank Gehry brand was presented as a magic wand that he waved to gain instant approval and acclaim for the project.

The fact that evictions and emminent domain threats even took place is pretty outrageous in the face of the fact that he won't build anything unless he builds his arena first.

There is very little in the way of him starting the housing portion on the east end of the site.

He wants an arena. Period. Not much else driving him.

[ablarc]

He sure has put a lot of time, energy and --yes-- money into just wanting an arena. Coulda bought less land too. Some people got no sense.

[pianoman11686]

BR, I think it's unfair to label Ratner as unqualified. Forest City is considered by any measure a major development company. Ratner's won numerous awards from publications and organizations recognizing his accomplishments. Just because he hadn't built on this scale doesn't mean anything. Everyone starts out small, and very few end up embarking on something as big as Atlantic Yards. I think, given his substantial experience developing in Brooklyn, he was a rather predictable pick for this site.

I think what happened here is that Ratner got sideswiped, like many other developers (Harry Macklowe, anyone?) by the double combination of rising costs and the credit crisis. I think he still intends to build everything out, and isn't just going to put up an arena and one or two buildings and then call it quits.

Unfortunately, as I've said before on this thread, I can't throw my support for the project because of its heavy reliance on eminent domain and government involvement. As an architecture fan, I've liked what Gehry's produced thus far, and hope that - assuming it does go forward - it comes out looking like the renderings. If it doesn't, it'll probably be in large part thanks to the lawsuits filed by the people being evicted. At this point I think they were fully justified in going to court.

I suppose in that sense Ratner made a severe miscalculation. Perhaps because of his strong ties to the government and reputation for receiving subsidies, he expected it would be much easier to get started on construction quickly, and thereby doomed himself.

[Alonzo-ny]

I dont get why Ratner needs to develop the whole area, isnt this similar to the failure of Moynihan where trying to add more to the project killed the original point. I dont see why he cant just build over the yards with the arena and connected towers then let the surrounding areas develop naturally.

[pianoman11686]

The entire yards were auctioned off in one piece, and he won. If he develops the whole thing, he stands to benefit from many subsidies from the ESDC.

[Alonzo-ny]

Aha, I was just a boy when this project was being born.

[NYC4Life]

We'll all grow gray hair by the time some construction finally gets started :rolleyes:

[BrooklynLove]

there has been a steady stream of significant work going on for a while now - all demo and infrastructure. you should go have a look if you think this project is stalled.

[lofter1]

I dont get why Ratner needs to develop the whole area ... I dont see why he cant just build over the yards with the arena and connected towers then let the surrounding areas develop naturally.

Tell that to the folks that were tossed out of their homes due to eminent domain, all because Ratner claimed he needed all of the lots to develop this whole project.

Bait & Switch. In any other enterprise such would be seen as the actions of a thief and a thug.

[BrooklynRider]

I don't know why he couldn't leave the surrounding areas that were developing naturally alone. Oh wait, I know why. He is a pig at the public trough.

[NYC4Life]

US Supreme Court rejects Atlantic Yards petition

Updated On 06/23/08 at 12:02PM

http://s3.amazonaws.com/trd_three/images/26614/ay_midsize.jpg

By Jovana Rizzo

The U.S. Supreme Court will not hear an eminent domain petition against the $4 billion Atlantic Yards project in yet another legal loss for opponents.

The petition would have granted a hearing to 11 property owners and tenants challenging the government's ability to seize private homes for development.

Besides the 11 plaintiffs, about 30 additional residents and business owners will be affected by property seized for Forest City Ratner's Atlantic Yards (http://ny.therealdeal.com/articles/federal-appeals-court-oks-atlantic-yards-project) development.

Community group Develop Don't Destroy Brooklyn now plans to take its petition, Goldstein et al. v. Pataki et al., to state court.

"Our claims remain sound," said lead attorney Matthew Brinckerhoff in a statement. "New York State law, and the state constitution, prohibit the government from taking private homes and businesses simply because a powerful developer demands it. Yet, this is what has happened."

In a statement, developer Bruce Ratner said, "We believe, and the courts have repeatedly agreed, that Atlantic Yards provides significant public benefits including thousands of affordable homes and much needed jobs for Brooklyn. We are gratified that the Supreme Court has decided to put an end to this lawsuit. The opponents have now lost 20 court decisions relating to Atlantic Yards and we are now one step closer to making these benefits a reality for the borough and the City."

Last week, Develop Don't Destroy Brooklyn asked the Public Authorities Control Board to investigate the financing (http://ny.therealdeal.com/articles/ay-financing-investigation-proposed)of the project because of its increased cost.

In February, the 2nd U.S. Circuit Court of Appeals rejected (http://ny.therealdeal.com/articles/federal-appeals-court-oks-atlantic-yards-project) the eminent domain lawsuit. Just before that decision, a state judge a rejected lawsuit that challenged the state's environmental review of the project. And the New York State Appellate Division denied an appeal (http://ny.therealdeal.com/articles/state-court-rejects-atlantic-yards-appeal) against the state's use of eminent domain.

[ZippyTheChimp]

He sure has put a lot of time, energy and --yes-- money into just wanting an arena. Coulda bought less land too. Some people got no sense.Actually, I doubt he could have found himself a better deal. The arena will be state owned. Ratner will pay $30 total rent for 30 years. At that point, he can walk away (conveniently when arenas start to show their age), or exercise a renewal for 69 years (at the same $1 per year).

Just because he hadn't built on this scale doesn't mean anything.Well, it means he has no experience building on this scale - not exactly meaningless. It's funny that a more experienced developer, Brookfield, was given little chance of winning the HY bid because they had no anchor tenant.

and isn't just going to put up an arena and one or two buildings and then call it quits.How can you be sure of that? As I indicated above, the arena will provide Ratner a sustainable revenue stream. If he makes unreasonable demands on the city and state, what leverage do they have?

There's a danger of creating another MSG & Dolan. The city can't get him off Penn Sta because he has his $11 million tax subsidy, and his arena is profitable. What does he care about the neighborhood; why is it assumed Ratner will care about AY?

[JCMAN320]

Well lets be real, by Ratner's own admission, the only reason he bought the Nets, was to make the incentive to build such a large project. The inclusion of the Nets and the sexy idea of bringing pro sports back to Brooklyn was just the thing Ratner needed to get this project approved.

I mean within days of buying the team he started to dismantle the team by letting go PF Kenyon Martain and PG/SG Kerry Kettles who were both key the New Jersey Nets making those two back to back trips to the NBA Finals. He later said he was suprised the fans revolted against him and admitted he didn't know anything about basketball and tried to appease us fans by signing Vince Carter. When it comes to owning this team, Ratner is a moron.

[pianoman11686]

How can you be sure of that? As I indicated above, the arena will provide Ratner a sustainable revenue stream. If he makes unreasonable demands on the city and state, what leverage do they have?

Not sure. I said "I think he intends to..." and it's all conjecture at this point. If profit is his main goal, I have to think that completing the project as planned will give him better returns than if he just stuck with the arena. If legacy is an additional goal, perhaps he'd like to be remembered as the man behind the biggest development in Brooklyn history.

[ZippyTheChimp]

If profit is his main goal, I have to think that completing the project as planned will give him better returns than if he just stuck with the arena.. It seems by his actions so far, Ratner isn't convinced that his ROI is sufficient for the entire project without some more feed-grain from the public trough.

And I don't see him being stuck with the arena. Looks like a cash-cow to me.

If legacy is an additional goal, perhaps he'd like to be remembered as the man behind the biggest development in Brooklyn history.Oink.

[pianoman11686]

And I don't see him being stuck with the arena. Looks like a cash-cow to me.

No disagreement there. (I think you misread my post.)

Oink.

Don't you mean:

http://tbn0.google.com/images?q=tbn:apJzkqJNb_rVtM:http://www.insidethedragonsden.com/images/2007/06/11/imgthatsallfolks_2.jpg

[ZippyTheChimp]

I was going more for this...

http://www.leedsfarm.com/images/animals/pig.jpg

[Tectonic]

Email from FCR

FOREST CITY RATNER STATEMENT ON UNITED STATES SUPREME COURT DECISIONNOT TO HEAR EMINENT DOMAIN CASE


Dear Skylimitone,

June 23, 2008 - Brooklyn, NY - Bruce Ratner, the CEO and Chairman of Forest City Ratner Companies, today applauded the United States Supreme Court decision not to hear an eminent domain suit requested by opponents of the Atlantic Yards project.
Today the Supreme Court, the highest court in the land, affirmed the State's right to use eminent domain relating to Atlantic Yards. In February, the Court of Appeals, Second Circuit, unanimously affirmed the District Court's decision in a case brought by opponents of the Atlantic Yards project in Brooklyn on the grounds that the use of eminent domain violates the Public Use Clause of the Fifth Amendment. The District Court had previously decided against the plaintiffs in the case citing the numerous public benefits generated by the project.
"We believe, and the courts have repeatedly agreed, that Atlantic Yards provides significant public benefits including thousands of affordable homes and much needed jobs to Brooklyn," Mr. Ratner said. "We are gratified that the Supreme Court has decided to put an end to this lawsuit. The opponents have now lost 20 court decisions relating to Atlantic Yards and we are now one step closer to making these benefits a reality for the borough and the City."
Background on Atlantic Yards
Construction on the Site
- Construction work on Atlantic Yards began in February of 2007. FCRC expects to open the Barclays Center in the 2010 calendar year.
- To date, roughly 53% of the structures on the site have been demolished or are in the process of being demolished. 30 structures have been demolished and an additional 3 buildings are being demolished or are slated to be demolished in the short term. There are 11 vacant lots and 29 other remaining structures.
- Minority- and women-owned businesses have received a large percentage of the work. Construction contracts awarded at Atlantic Yards total approximately $43 million. The total MBE awards are $16.4 million or approximately 38% of total purchases. The total WBE awards are $2.9 million or approximately 7% which brings the total M/WBE participation thus far to $19.4 million or approximately 45%.
- Construction of the Temporary Rail Yard is under way. The Carlton Ave bridge is in the process of being demolished and critical upgrades to the 100 year old sewer and water infrastructure have begun.
Legal Update
- February 1, 2008. US Court of Appeals, the Second Circuit, unanimously rejects the opponents' appeal in the federal eminent domain lawsuit that was dismissed in June, 2007.
- January 15, 2008. The Appellate Division of the New York State Supreme Court unanimously dismissed a challenge to the project approvals under Section 207 of the Eminent Domain Procedure Law in November 2007. Opponents' request for an appeal was denied in January, 2008.
- January 11, 2008. NY State Supreme Court rules against opponents in a case on environmental review procedures. Opponents are appealing the case.
- October 2007. A second suit brought in the NY State Supreme Court challenging the State's use of eminent domain was dismissed in May 2007, and the dismissal was affirmed by the Appellate Division in October 2007.

[BrooklynLove]

the hand! says ratner

[JCMAN320]

Sorry guys nothing is final, this news just won't die, I find it hard to believe Booker is lying and if it sounds like a duck, look like a duck, walks like a duck,...its a freggin duck!

Courtesy of NYC4LIFE in the Newark Thread:

From: Metro New York

http://ny.metro.us/metro/sports/arti...ets/12802.html

Booker attempts to woo new-look Nets

http://s3.amazonaws.com/trd_three/images/41055/booker_articlebox.jpg

by joe brescia / metro new york
JUN 30, 2008

NBA. When Newark Mayor Cory Booker welcomed Bruce Springsteen, Gen. Norman Schwarzkopf, Yogi Berra and others into the New Jersey Hall of Fame weeks before the NBA draft, Booker said he hoped to welcome another group of athletes to town in the near future: the Nets.

Booker is trying to help Jeffrey Vanderbeek, the owner of the Devils, assemble investors to purchase the team.

Bruce Ratner, the Nets’ principal owner, has denied reports that he is interested in selling the team or moving it to Newark. Booker, though, says otherwise.

“I’m going to work very hard to make it happen,” Booker says. If the deal were to go through, the team would play at the Prudential Center, the newly built Devils’ home arena. Both teams played at the Izod Center, the former Continental Arena, in East Rutherford, N.J., before the Devils moved to the new facility in Newark last season.

“I don’t think there’s going to be a fight,” Mr. Booker said. “I think it’s going to be settled in an amicable way.”

He sees the Nets as a centerpiece to the continued revitalization of the city.

“The Nets were made for Newark,” he said. “It’s the comeback city. And I think the Nets will be the comeback team in the NBA, and they should do it here.”

Construction on the proposed new home for the Nets in Brooklyn, Barclays Center, is supposed to start at the end of the year. However, the project, part of the Atlantic Yards complex, might be subject to construction delays.

The Nets shook up their roster Thursday by selecting Stanford center Brook Lopez in the draft and trading Richard Jefferson to Milwaukee for 2007 first-round pick Yi Jianlian.

“I thought they were moving to Brooklyn,” Lopez said.

“Wherever we are, we’ve made moves to be contenders.”

[BrooklynLove]

what a joke

[Alternate1985]

I think this really makes the move fairly certain

http://www.barclayscenter.com/

The second photo under luxury suites has Jay-z in it standing next to a very large Barclays logo.

[ZippyTheChimp]

@JCMAN320:

Although I wouldn't mind Ratner striking the tents and taking the entire circus to Newark, that article and Booker's statements are ridiculous.

Booker:I don’t think there’s going to be a fight. I think it’s going to be settled in an amicable way.What is going to be settled? This isn't a bidding war. Ratner owns the team. If he doesn't want to sell it, there won't be any fight, no matter how hard Booker works. The article states that "Booker says otherwise," but nowhere is there a quote where he states that Ratner wants to sell the team. Instead we get:The Nets were made for Newark. It’s the comeback city. And I think the Nets will be the comeback team in the NBA, and they should do it here.Rah-rah. Vote for me.

It's possible that Ratner is lying, but why can't you believe Booker is also lying, or to be precise, pandering to his electorate by demonstrating how hard he works for them.

Whether or nor Ratner sells the team will depend on what happens in Brooklyn, not Newark.

[lofter1]

Let's see ... there might be nothing in the following scenario that plays out, but it's possible, eh?

NETS currently play at in the Dolan house at MSG. When does that contract end?

Ratner cliams he's packing up the team and moving them to his flashy new Arena in Brooklyn / Atlantic Yards @ 2009.

But there is no way that new AY Arena will be built in time for the move (if ever).

So at some time before that point if Ratner wants his team to have a place to play (which he probably has a legal obligation via NBA to provide) then Ratner will need to (a) renegotiate with MSG / Dolan clan or (b) find another new home for his Arena-less team (c) sell 'em.

Push comes to shove: What good is a team without a place to play?

There's where the bidding war comes in.

If, that is, anyone besides Booker / Newark wants them. If not then there's no bidding war and Ratner would need to sell to someone with a viable venue.

Again: Booker / Newark.

But I know little to nothing about basketall / NBA.

[ZippyTheChimp]

NETS currently play at in the Dolan house at MSG. When does that contract end?Huh?

Nets play at the Izod Center. Or is it Polo Center? I'm getting my shirts mixed up.

They'll stay there as long as Ratner pays the rent.

Ratner has to keep the Nets because it's the only viable hold he has on the shrinking AY project. If he sells the team, what's left? It would mean he wants out of AY.

That, of course, is possible. But Booker has no leverage here. He's behaving like Marty Markowitz.

Now, that's holistic.

[scumonkey]

Huh?

But I know little to nothing about basketall / NBA.


:D

[lofter1]

Like I said :o

[BrooklynRider]

This could all work out nicely. If Ratner dumps the Nets, then he would have a face-saving excuse to abandon Atlantic Yards all together.

One can only dream...

[TREPYE]

^ Yeah, for those who dream of having such inspiring railyards grace the Brooklyn neighborhood for another 20 years. Then we can have Kauffman's son design some just incredible Best Western hotels. Yay.

[BrooklynRider]

I'm kind of surprised that anyone would bet it all on Ratner.

It might be better to wait as you suggest. Downtown Brooklyn is growing. Rather than build a poorly thought out vision for this site, it might make more planning sense to build upon the experiences gained through current development. Let it progress more organically, not unlike Jersey City.

[ablarc]

Rather than build a poorly thought out vision for this site, it might make more planning sense to build upon the experiences gained through current development.
What's poorly thought out about the physical aspects of this scheme? Objection seems to be to its financing and methods.


Let it progress more organically, not unlike Jersey City.
Now THAT's poorly thought out.

[BrooklynRider]

It is a huge site.

It is not possible to finance the entire project at this time, so why commit to a site plan for the entire Atlantic Yards? Break it up and design and develop it in components.

Development massing, public space, traffic patterns, the pedestrian experience and, most importantly, infrastructure and transportation demands beg for further planning and consideration. That would be the kind of considerations and issues that would have been more stringently addressed if there had been a real competition amongst developers for the site.

If we aregue that ratner was the only devel;oper to come forward, then the RFP can be considered flawed. The Fulton Street Transit Center is being put on the shelp due to a lack of response. Why not this huge site?

[NYC4Life]

From: NY Sun

Landmarks May Stem Atlantic Yards Area Development

By PETER KIEFER, Staff Reporter of the Sun | July 14, 2008

Opponents of the Atlantic Yards (http://www.nysun.com/related_results.php?term=Atlantic+Yards) development project in Brooklyn are focusing on a new way to hem in the $4 billion development project: the landmark protection process.

The city's Landmarks Preservation Commission is holding a hearing tomorrow to "calendar" a proposed historic district for the Prospect Heights neighborhood, the first significant step needed for the area to receive the protected historic district status.

While none of the footprint of the current Atlantic Yards project would be affected by the proposed designation, it would create a surrounding area that could hinder further expansion.

The Atlantic Yards developer, Forest City Ratner Companies (http://www.nysun.com/related_results.php?term=Forest+City+Ratner+Compan ies), is seeking to build 16 skyscrapers, an 18,000-seat basketball arena for the Nets, and thousands of apartments at a site at the corner of Flatbush and Atlantic avenues.

"What it would do is serve as a buffer against Atlantic Yards and halt other construction in the area that is out of scale," the City Council member who represents the area, Letitia James, who has been pushing the designation for a number of years, said in an interview yesterday.

The Municipal Arts Society, the group organizing the legal opposition to the Atlantic Yards project, the opposition group Develop Don't Destroy Brooklyn, and the Prospect Heights Neighborhood Development Council are applauding the city's move for historic designation.

"The pressure from the Atlantic Yards project and other recent developments are of grave concern to the hundreds of local residents who have written in support of historic designation for Prospect Heights," the Municipal Arts Society said in a statement.

The process of "calendaring" assigns buildings to the Department of Buildings database, and any work on a designated building that requires a permit would then need to be reviewed by the Landmarks Preservation Commission prior to the permit being issued.

The proposal would include portions of the area bordered by Flatbush and Washington avenues and between Atlantic Avenue and the Eastern Parkway.

A public hearing on the designation would likely occur in the fall.
The area's signature structures are 19th- and early-20th-century houses.
A spokesman for Forest City Ratner was unavailable for comment yesterday.

The landmarks commission tomorrow will also be discussing a designation of West Chelsea that would create another historic district just south of the West Side Rail Yards — the site of another multibillion-dollar development project.

The executive director of the historic districts council, Simeon Bankoff, said the trend of designating historic districts adjacent to large developments may stem from resident concerns that megaprojects may not live up to their potential.

[lofter1]

That headline is completely misleading.

First, Landmark status for the surrounding area will not "stem" development on the AY site.

Second, guess who controls LPC? Same folks who are pushing for AY.

[BrooklynLove]

Misleading anti-AY rhetoric? NEVER!

[brianac]

Landowners Bring Atlantic Yards Eminent Domain Battle to State Court

by Eliot Brown (http://www.observer.com/2007/author/eliot-brown) | August 4, 2008

Six weeks after the U.S. Supreme Court declined to hear their federal lawsuit (http://www.google.com/url?sa=t&ct=res&cd=1&url=http%3A%2F%2Fwww.observer.com%2F2008%2Fu-s-supreme-court-passes-atlantic-yards-legal-battle-will-go&ei=cgmXSO-FF4GEvAW3jqWyCg&usg=AFQjCNG1Rh712Ng9x-egZqPtyhENdxRD7A&sig2=CGapaPaGZnUBtuFHgdZ2qg), landowners fighting the use of eminent domain for the Atlantic Yards project in Brooklyn have filed another suit, this time in state court.

Opposition group Develop Don't Destroy Brooklyn put out a release today announcing the lawsuit, filed Friday, which claims the development was approved to benefit a private developer (Bruce Ratner) as opposed to benefit the public (which would justify the use of eminent domain), among other charges.

"Far from emerging from a legitimate democratic process where the public interest is identified and articulated," the suit says, "the Project is the product of a developer's dream-and a conscious effort to bypass City procedures mandating meaningful local review, planning, democratic oversight and community input."

If anything else, the lawsuits thus far seem to have delayed the start of the more than $4 billion planned project, which calls for a new basketball arena for the Nets, and over 6,000 apartments. Now, more than a year and a half since the Atlantic Yards project received state approval, a host of clouds circle over developer Forest City Ratner, which once anticipated building the entire first phase (which includes the arena, an office tower and at least 1,000 units of housing) by 2010. The once-lush climate for financing has turned to an arid desert, tax-free housing bonds are in short supply given soaring demand, and the financing mechanism by which the company was to get tax-free bonds for the arena is under fire by the I.R.S. (http://www.nytimes.com/2008/06/13/nyregion/13stadium.html?_r=1&ref=nyregion&oref=slogin), threatening to drive up costs by more than $100 million.

But if the landowners had an uphill climb challenging eminent domain in federal court, the ascent in New York state court is generally regarded as a particularly daunting one, given the relatively generous treatment to the state by New York's eminent domain law.

We're waiting on a statement from Forest City, but if history is any guide, the company will point out (correctly) that the courts have tossed all the lawsuits challenging the project to date.

Release below.
Nine Property Owners and Tenants File Atlantic Yards Eminent Domain Challenge in New York State Court
Petitioners Seek to Prevent New York State's
Seizure of Their Homes and Businesses by Eminent Domain

BROOKLYN, NY Late Friday nine property owners and tenantswith homes and businesses New York State wants to seize for developer Forest City Ratner's Atlantic Yards projectfiled a petition with the Appellate Division of New York State Supreme Court seeking an order rejecting the Empire State Development Corporation's (ESDC) findings and determination to seize their homes and businesses by eminent domain.
The court argument will likely be in January 2009.

"New York Courts have a proud history of interpreting the New York Constitution as providing greater protections for individual rights than the federal constitution. This case presents an opportunity to continue that tradition by declaring that the New York Constitution prohibits the government from seizing private homes simply to turn them over to a developer who covets them for a massive luxury condominium project," said lead attorney Matthew Brinckerhoff of Emery Celli Brinckerhoff & Abady LLP. "We are confident that the court will see this for what it is: government officials bending to the will of Bruce Ratner, allowing him to wield the power of eminent domain for his personal financial benefit."

Facing the seizure of their homes and businesses, the petitioners have alleged five claims against the ESDC the condemning authority utilized by Forest City Ratner to take the petitioners' properties and give them to Forest City Ratner. The five claims are that the ESDC's determination to forcibly seize the properties should be rejected because:

1. It violates the public use clause contained in the Bill of Rights of the New York Constitution.
ESDC's claims of public benefit are a pretext to justify a private taking.

2. It violates the due process clause contained in the Bill of Rights of the New York Constitution.
The public process was a sham. The outcome was predetermined in a back room deal between Ratner, Pataki and Bloomberg.

3. It violates the equal protection clause contained in the Bill of Rights of the New York Constitution.
By singling out the petitioners, for unequal, adverse, treatment, and selecting Ratner as the recipient of irrational largess, the ESDC violated the petitioners' right to equal protection under the law.

4. It violates the low-income and current resident requirements of the New York Constitution.
The New York State Constitution provides that no loan or subsidy shall be made to aid any project unless the project contains a plan for the remediation of blight and the "occupancy of any such project shall be restricted to persons of low income as defined by law and preference shall be given to persons who live or shall have lived in such area or areas."
The Atlantic Yards project is not "restricted to persons of low income" and no preference has been given to "persons who live or shall have lived in such area."

5. It violates the "public use, benefit or purpose" requirement contained in New York's Eminent Domain Procedure Law (EDPL).


http://www.observer.com/2008/real-estate/landowners-bring-atlantic-yards-eminent-domain-battle-state-court

© 2008 Observer Media Group,

[Triborough]

I hope this monstrosity gets shot down.
Why is it that owners of sports teams who are from Cleveland have to be such evil bastards?

Oh, Underberg Building, how I miss thee.
http://farm1.static.flickr.com/18/93830802_9ab8d8ba3c.jpg (http://www.flickr.com/photos/triborough/93830802/)

[NYC4Life]

The building makes it a nice graffiti canvas.

[NYC4Life]

The New York Observer

Nets Arena May Not Be Finished Until 2011, Ratner Says


by Eliot Brown (http://www.observer.com/2007/author/eliot-brown) | August 4, 2008 | Tags: (http://www.observer.com/term/50379)

http://www.observer.com/files/imagecache/article/files/bruceratnergetty.jpg Getty Images.
Bruce Ratner.



The planned new Brooklyn basketball arena for the Nets now may not be ready until 2011, according to developer Forest City Ratner, as the company acknowledges that the time to build the structure may take it past its current completion goal of calendar year 2010.

The news was first spotted by Norman Oder at his encyclopedic watchdog blog Atlantic Yards Report (http://atlanticyardsreport.blogspot.com/2008/08/bruce-ratner-makes-it-official-ay-arena.html), where he put up part of a transcript from a Forest City conference in June [corrected]. In the conference, Forest City chairman Bruce Ratner said the company hoped to start construction on the arena by the end of this year, and would take two and a half years to finish.

We put the question over to Forest City this morning, and here's their response, via a statement from vice president Bruce Bender:
"It is not a new schedule. I think Bruce was just stating that the schedule in place is in fact very aggressive. We plan to break ground this fall and are working to open in calendar year 2010. While that's the goal, if it is not met then it would end up being calendar year 2011."


Of course, that timeline could itself be upset if the company cannot secure financing before the end of the year, and given that the IRS is raising hackles (http://www.observer.com/2008/real-estate/i-r-s-could-crimp-bloomberg-s-big-plans?page=0%2C1) with the tax-free financing Forest City was expecting, that's not at all an inconceivable prospect.

[Triborough]

Hopefully the damn thing will never get built. There is a perfectly good arena in Newark.

[STEAMWORKSNYC]

Booo^^ 2011 this project is a joke.

[ablarc]

Hopefully the damn thing will never get built.
Why?

[lofter1]

One good reason: Ratner will suck money out of the Public's pockets to build it (and give little back).

[ZippyTheChimp]

He sure looks happy.

[BrooklynLove]

He's happy b/c the commodities bubble is imploding and materials costs are going to be off 25% from their current levels by the time he starts work.

[ZippyTheChimp]

I was thinking more...

"Happy as a pig in shit."

[JCMAN320]

My team is sitting and losing money in an airplane hanger of an arena that is the Izod Center while the beautiful state of the art Prduential Center sits waiting with an NBA ready locker room in Newark; yet he is trying to get this cockamamy arena in Brooklyn. This is boondoggle and I'm enjoying every minute of this fall from grace. Booker and Vanderbeek get those investors and bring my boys to Newark!!

[Triborough]

My team is sitting and losing money in an airplane hanger of an arena that is the Izod Center while the beautiful state of the art Prduential Center sits waiting with an NBA ready locker room in Newark; yet he is trying to get this cockamamy arena in Brooklyn. This is boondoggle and I'm enjoying every minute of this fall from grace. Booker and Vanderbeek get those investors and bring my boys to Newark!!

The thing is that the whole thing with Ratner and the Nets had nothing to do with basketball. They are a means to an end. Marty Markowitz has never recovered from the Dodger leaving in 1957 and anything that has professional sports attached to it in his eyes has to be good. The arena was just cover to build commercial and residential space. Ratner may be from Cleveland, but he is no Steinbrenner.

[BrooklynLove]

What is more perplexing? The fantasy among NJers that the Nets organization has even a scintilla of interest in moving to Newark? Or the bubble world scenario in which AY gets developed w/o major developer incentives?

If you'd like a dose of reality as to where this project stands, read this:
http://www.empire.state.ny.us/AtlanticYards/ConstructionUpdate30.asp

[Triborough]

The Nets, of course, have no desire to stay in New Jersey because the whole reason for their purchase was as a smokescreen for the project.
When the thing turns into an epic fail, Ratner will unload them.

[ZippyTheChimp]

The "Nets Organization" (as far as this thread is concerned) isn't an NBA franchise; it's Forest City Ratner.

As already noted, Rater is no Steinbrenner. He's no Bill Shea or Wellington Mara. He doesn't care about the Nets other than as a doorway to the AY public trough.

We're not getting what was originally promised, flawed though it is. The city/state might as well own the Nets, since they're paying for the move.

We could all have shares, like the Packers.

[BrooklynRider]

I think the reports of the demise of this project are just distractions thrown up by Ratner's P.R. people. There's more infrastructure construction going on at the perimeters of the would-be arean and there are a number of pieces of earth moving equipment on site.

[BrooklynLove]

Tons of work and progress going on throughout the Yards. Anyone who believes the gloom and doom being pushed by the propagandists needs to get out in the 3 dimensional world and pay a visit to the Yards.

http://www.empire.state.ny.us/AtlanticYards/ConstructionUpdate31.asp

[brianac]

Brooklyn Arena Builder Plans to Break Ground in December After Delay

By CHARLES V. BAGLI (http://topics.nytimes.com/top/reference/timestopics/people/b/charles_v_bagli/index.html?inline=nyt-per)
Published: September 9, 2008

The developer Bruce C. Ratner has told state and city officials that he plans to break ground in December on his long-delayed $4 billion Atlantic Yards (http://topics.nytimes.com/top/reference/timestopics/subjects/a/atlantic_yards_brooklyn/index.html?inline=nyt-classifier) project in Brooklyn, which will feature thousands of apartments and offices in 16 towers built around a glamorous basketball arena for the Nets.

http://graphics8.nytimes.com/images/2008/09/10/nyregion/10yards-inline1-650.jpgRuby Washington/The New York Times
Bruce C. Ratner in Brooklyn at the Atlantic Yards, which he has hopes to transform.

But it is unclear whether Mr. Ratner will be able to meet his own deadline to start one of the most ambitious projects in Brooklyn in decades, given the softening economy, the crisis in the debt markets, rising costs and a persistent group of opponents who have filed one lawsuit after another.

The developer has been rushing to have a November closing on his deal with state officials and the Metropolitan Transportation Authority (http://topics.nytimes.com/top/reference/timestopics/organizations/m/metropolitan_transportation_authority/index.html?inline=nyt-org), which owns a section of the 22 acres he plans to use for the project.

Mr. Ratner, who is the chairman of Forest City Ratner; his bankers at Goldman Sachs; and David Stern (http://topics.nytimes.com/top/reference/timestopics/people/s/david_stern/index.html?inline=nyt-per), commissioner of the National Basketball Association (http://topics.nytimes.com/top/reference/timestopics/organizations/n/national_basketball_association/index.html?inline=nyt-org), also met last week with bond-rating agencies to discuss the proposed financing for the $950 million arena, which was designed by Frank Gehry (http://topics.nytimes.com/top/reference/timestopics/people/g/frank_gehry/index.html?inline=nyt-per). (Forest City Ratner was the development partner for the new Manhattan headquarters of The New York Times Company.)

But that financing plan for the arena, known as Barclays Center, is dependent on a favorable ruling by the Treasury Department in the coming weeks that would allow Mr. Ratner to use tax-exempt bonds and a final victory over court challenges. If he is barred from using tax-exempt bonds, his costs will increase substantially for what would already be the most expensive arena in the world.

Either way, bankers and real estate executives say it will be difficult to sell bonds for an arena at a time when New York’s real estate boom has quieted and investors and lenders are wary of backing large-scale projects.

Indeed, Mr. Ratner has asked government officials recently for as much as $100 million in additional cash for the project, citing rising costs and problems in the bond markets, according to two officials who would speak only on the condition of anonymity because they were not authorized to discuss the negotiations. The city and the state have already agreed to provide $300 million in subsidies and tens of millions in tax breaks.

Still, in a conference call with stock analysts on Tuesday, Charles Ratner, the chief executive of Mr. Ratner’s parent company, Forest City Enterprises, said that Atlantic Yards was the biggest project in their development pipeline and that he was confident that “we can make it happen” by the end of the year.

Joseph DePlasco, a spokesman for Bruce Ratner (http://topics.nytimes.com/top/reference/timestopics/people/r/bruce_ratner/index.html?inline=nyt-per), said his company had drawn up documents for a tax-exempt bond offering that would enable them to move quickly after the Treasury Department issued its ruling. But, he said, Forest City and Goldman Sachs were also confident that they could obtain taxable financing, if needed.

“While it is a tough market, we have secured more than $1.5 billion in construction loans this year so far,” Mr. DePlasco said. “And this is the most exciting project in the country and the most exciting arena in the world.”

One reason Mr. Ratner may be forging ahead is his deal with Barclays Bank, which officials say provides him with $20 million a year for naming the arena after it. The naming rights contract requires Forest City to close on the land and the financing by the end of November.

Mr. DePlasco declined to discuss the company’s arrangement with Barclays.

But opponents, who object to the size of the project, its impact on the surrounding neighborhood and the use of eminent domain by the state, said that Mr. Ratner would fall short of his goal.

“There’s no way they’ll get control of the land they need, get the financing, end the litigation and break ground by December,” said Daniel Goldstein, a spokesman for Develop Don’t Destroy Brooklyn, the project’s primary opponent. Andrew DeSouza, a spokesman for the Treasury Department, declined to comment on whether a decision concerning tax-exempt financing for stadiums and arenas was imminent. The Internal Revenue Service (http://topics.nytimes.com/top/reference/timestopics/organizations/i/internal_revenue_service/index.html?inline=nyt-org) issued proposed regulations in 2006 that would make it more difficult, if not impossible, for tax-exempt bonds to be used for private sports teams.

The Treasury Department has been soliciting comments ever since. Both the city and the state have lobbied on behalf of the Atlantic Yards project, as well as for the Yankees and the Mets, which are already building stadiums with tax-exempt bonds.

It is unlikely that Mr. Ratner will be able to get more cash from the city or the state, but he is also negotiating for tax subsidies to ensure that at least 30 percent of the 6,000 apartments in the complex would be affordable for low- and moderate-income families. Talks are also continuing with the Metropolitan Transportation Authority.

http://www.nytimes.com/2008/09/10/nyregion/10yards.html?_r=1&ref=nyregion&oref=slogin

Copyright 2008 (http://www.nytimes.com/ref/membercenter/help/copyright.html) The New York Times Company (http://www.nytco.com/)

[NYC4Life]

Let's get the shovels in the ground already.

[BrooklynLove]

JCMan - how dependable is the WTC-Newark PATH schedule durinig rush hours?

[lofter1]

Bruce won't be turning over any shovelfuls of dirt in 2008.

[JCMAN320]

Very reliable and busy no need for the sarcasim. Also we are New Jerseyans not NJ'ers. I'll deal with this bullshit but I don't have to like it.

This man is a SOB and a snake in a grass. I have heard years ago that the players felt this was wrong because Ratner would be robbing the NJ fan base. This man cares nothing about basketball and US New Jersey Nets fans, he cares about money and making his Downtown Brooklyn Empire. But that could be said about most sports owners, but atleast they know about basketball, this man doesn't. I would love to beat the crap out of this man.

[ramvid01]

Well at least Ratner isn't James Dolan. Now thats the epitome of a terrible owner.

[antinimby]

Ughhh...James Dolan is filthy, disgusting slime.

--------------


"NJ'ers" :D

BrooklynLove, you dunce. ;)

[BrooklynLove]

Hah! I actually meant that PATH question legitimately (possibly expecting to make that trek several times in the not so distant future) but in hindsight I can see how that may have come across as a bit slick. :)

I embrace duncehood. :D

[lofter1]

... at least Ratner isn't James Dolan.


Give him time.

[fluffypolly]

Very reliable and busy no need for the sarcasim. Also we are New Jerseyans not NJ'ers. I'll deal with this bullshit but I don't have to like it.

This man is a SOB and a snake in a grass. I have heard years ago that the players felt this was wrong because Ratner would be robbing the NJ fan base. This man cares nothing about basketball and US New Jersey Nets fans, he cares about money and making his Downtown Brooklyn Empire. But that could be said about most sports owners, but atleast they know about basketball, this man doesn't. I would love to beat the crap out of this man.


Teams move, get over it. it just happened to be NJ this time, so what not the end of the world. you rag on the man, cause hes doing what his career is, to develope property and make money doing so. and to think he owes you somehow, quite frankly your full of it. if you want to get mad at someone get mad at the former owners of the nets who knew full well that he planned on moving the team to brooklyn. simply put, get a life!

[pianoman11686]

Very reliable and busy no need for the sarcasim. Also we are New Jerseyans not NJ'ers. I'll deal with this bullshit but I don't have to like it.

This man is a SOB and a snake in a grass. I have heard years ago that the players felt this was wrong because Ratner would be robbing the NJ fan base. This man cares nothing about basketball and US New Jersey Nets fans, he cares about money and making his Downtown Brooklyn Empire. But that could be said about most sports owners, but atleast they know about basketball, this man doesn't. I would love to beat the crap out of this man.

Surprise, more baseless pouting from JCMan.

A fact for you, my friend: last year, Nets attendance averaged 15,656/game, ranking 21st (out of 30) in the NBA. Percentage of seats sold was 78.3%, ranking 23rd. This, despite being located in the most populous metropolitan area in the country and having an impressive string of playoff appearances and postseason success since the Jason Kidd trade.

Ratner's robbing the NJ fan base? Yeah, right. The above statistics are inexcusable and put to rest any theory that New Jersey is a "rightful home" for the Nets. As a fan myself, I've been anticipating a resurgence for the team following a move to Brooklyn. Assuming it goes through, they will undoubtedly fair better in attendance, revenues, and (hopefully) winning a championship. From one fan to another, I encourage you to abandon your "loyalty" - which seems to be grounded in a nebulous patriotism to your home state - and instead focus on what will be best for the team in the future.

As for Ratner himself: yeah, he's a developer looking to maximize his profits, and he's sleazy. You think other sports team owners are any different?

[Alonzo-ny]

That post sums up everything accurately.

[JCMAN320]

Pianoman I appreciate your point and while I agree with your points and I'm happy you are a fan, I'm sorry it is hard to put my patriotism aside. Fluffypolly I have a life thank you very much, a very happy one. I'm full of alot of things but what you are referring to isn't one of them so sorry to disappoint you. The previous owners didn't know what Ratner was going to win, it was a bidding war between Corzine and Ratner, and Ratner didn't make his intentions clear till will after buying the team. Get your story straight fluff.

Piano: pouting my ass it's plain frustration and being a fan, the same way I'm pissed as hell with the PSL's the Giants are putting in!! We are being penalized for our loyalty.

[antinimby]

JCMan, I doubt this will make you feel any better but NJ won't be the only place that will lose an NBA team.

Check out the Seattle Supersonics. The new owners went there and bought the team specifically to move them to OKC.

Sometimes, it is all just economics.

I embrace duncehood. :DI think that is pretty obvious. :p

[pianoman11686]

Piano: pouting my ass it's plain frustration and being a fan, the same way I'm pissed as hell with the PSL's the Giants are putting in!! We are being penalized for our loyalty.

You just don't get it. If a team - like the Nets (or the Devils) - does well, and plays in the largest metropolitan area in the country, it should not be losing money or struggling to break even.

Look at it the other way: why should a team's owner(s) be penalized with below-par attendance despite good management? Why should a team continue to play where the local fan base can't seem to support them adequately?

Ratner bought the Nets almost 5 years ago with the full intention of moving them to Brooklyn. I think your grieving period has been long enough. Time to move on.

[lofter1]

Ratner bought the team 5 years ago so he could CLAIM he wanted to move them in order to foist his mega-plan on the citizens of NYC and suck subsidies out of the tax payers' pocket's.

Is the actual moving of the team now even necessary? Or the actual building of the arena? What is the penalty to Ratner if neither takes place?

Selling the team to the next highest bidder might be the businessman's choice.

[ZippyTheChimp]

Sometimes, it is all just economics.Always.

[ZippyTheChimp]

Pianoman I appreciate your point and while I agree with your points and I'm happy you are a fan, I'm sorry it is hard to put my patriotism aside.Patriotism? I think you mean fanaticism (as in fan).

From your point of view, you are losing an NBA team, and we're getting one. From my point of view, I'm paying to build a house for them to justify a pig's request for even more subsidies, and you're getting to unload a team that loses money.

Piano: pouting my ass it's plain frustration and being a fan, the same way I'm pissed as hell with the PSL's the Giants are putting in!! We are being penalized for our loyalty.As already stated, it's all economics. The sooner you accept that, the less frustrating your fan experience will be.

[NYC4Life]

Brownstoner

September 17, 2008

How Will Wall Street's Chaos Affect Atlantic Yards? (http://www.brownstoner.com/brownstoner/archives/2008/09/how_wall_street.php)

http://www.brownstoner.com/brownstoner/archives/communityliaison_0908-.jpg

We don't know the answer to that, of course, but even before this latest Wall Street fiasco, the Atlantic Yards project was seeming particularly vulnerable. We heard last week (http://www.brownstoner.com/brownstoner/archives/2008/09/dddb_wonders_ab.php) that Forest City Ratner plans to break ground on Phase 1 (arena, a few towers) in December, though the NY Times pointed out that the project was marred by "the softening economy, the crisis in the debt markets, rising costs and a persistent group of opponents who have filed one lawsuit after another." But if folks were wondering if Phase II was ever going to happen — you know, that whole affordable housing part of it — now they wonder if we'll ever see the dawning of Phase I. One sign in the project's favor is that Barclays Bank, the namesake of the arena, seems to be holding up, and has plans to buy Lehman's investment banking and capital markets operations. Still, Atlantic Yards Report (http://atlanticyardsreport.blogspot.com/2008/09/times-barclays-naming-deal-has-november.html) noted that Barclay's required financing to be set by November if their deal was to go through, and that they still need a tenant for building one (http://atlanticyardsreport.blogspot.com/2008/09/anchor-tenant-for-building-1-search.html), a tougher sell in light of the financial crisis. As AMNY (http://www.amny.com/news/local/am-bloomberg0916,0,4282980,full.story) noted, "Big projects like the new World Trade Center and the Atlantic Yards could grind to a halt, according to Chris Jones, a researcher at the Regional Plan Association, should financing becomes more difficult and tax revenues dry up." Right now, Atlantic Yards' fate still rests somewhat with the Treasury Department, that has yet to rule on whether FCRC can use PILOTs (payments in lieu of taxes) to pay off bonds.

Considering FCRC has admitted that they need additional subsidies to realize their vision, and we're knee deep in government buyouts and bailouts, that seems unlikely, too.

Atlantic Yards Community Liaison Office. Photo by Tracy Collins (http://flickr.com/photos/tracy_collins/2845347137/in/pool-brownstoner).

[NYC4Life]

Brownstoner

September 18, 2008

AY Arguments Heard at Appellate Court (http://www.brownstoner.com/brownstoner/archives/2008/09/ay_arguments_he.php)

http://www.brownstoner.com/brownstoner/archives/whatremains_0908.jpg

Appeal arguments in the Atlantic Yards case — 26 neighborhood and civic groups against Forest City Ratner and the Empire State Development Corporation — were heard at Appellate Court yesterday, and folks challenging the project seemed to feel optimistic about it. The plaintiffs "intently listened to the exchange between the five-judge panel and the attorneys yesterday afternoon. They heard a judicial bench that was extremely skeptical of the ESDC’s rationale for its blight determination," reads a DDDB press release. The defendants were required to prove that the area surrounding Atlantic Yards was blighted, and thus eligible to be snatched up under eminent domain, so the entire 30-minute argument focused on the definition of blighted (any talk of making an area blighted by way of demolishing it, as in the photo above?). Defendants squirmed when answering, and, wrote Atlantic Yards Report (http://atlanticyardsreport.blogspot.com/2008/09/in-appeal-of-case-challenging-ay.html), "representatives of developer Forest City Ratner and the Empire State Development Corporation (ESDC), along with their clutch of attorneys, exited looking none too cheery."

What Remains. Photo by horseycraze (http://flickr.com/photos/flickrwass/2802354453/).

[NYC4Life]

New York Sun

Victorious Senate Democrats Could Target Eminent Domain


Click Image to Enlarge
http://www.nysun.com/pics/8376_large.jpg (http://www.nysun.com/pics/8376.jpg)

Laurie Olin

A rendering of the Atlantic Yards project in Brooklyn.


By PETER KIEFER, Staff Reporter of the Sun | September 22, 2008


A Democratic takeover of the Senate in November could result in changes to the state's eminent domain law, possibly complicating several of the city's largest development projects.

Senator Bill Perkins, a Democrat of Harlem, is calling for a moratorium on the use of eminent domain and said he is willing to push for more restrictions on the use of eminent domain, provided the political climate is right in Albany (http://www.nysun.com/related_results.php?term=Albany).

"I don't know of too many other issues where you have such diverse and pervasive outrage," he said yesterday in an interview.

Mr. Perkins said he would be meeting with Governor Paterson (http://www.nysun.com/related_results.php?term=David+Paterson) this week to discuss the findings of a hearing he held last week examining the possible use of eminent domain for the proposed $7 billion expansion of Columbia University's campus. He said Mr. Paterson was "supportive" of his work on eminent domain, but said he had not discussed specifics with the governor.

Other projects that could require the use of eminent domain and thus be affected if the laws governing it are changed are Forest City Ratner's Atlantic Yards mixed-use development project in downtown Brooklyn and the Bloomberg (http://www.nysun.com/related_results.php?term=Michael+Bloomberg) administration's plans to redevelop the 62-acre Willets Point site in Queens.

Both the Atlantic Yards and Willets Point projects are facing legal challenges from resident groups and landowners, while a private landowner with property within the footprint of the proposed Columbia expansion has vowed to fight the project in state court.

With the Republicans holding a one-seat edge in the Senate, a changing of the guard in Albany could lead Mr. Perkins and Assemblyman Richard Brodsky to lead the charge to change the state's eminent domain law.
"I think the Democrats taking control will mean a lot of important things and I would hope eminent domain would be one of them," Mr. Brodsky said.

A land-use attorney, Michael Rikon, said an effective alteration of New York State's law would not be easy.

He said the obstacles are myriad, ranging from vague definitions of "public purpose," which can be used in certain instances to justify seizure of privately owned property, to whether "economic development" is justifiable cause for land seizure. Mr. Rikon said the process of designating an area as "blighted" is flawed and added that there are too few procedures to allow private property owners to effectively challenge the state.

Mr. Rikon, who said he favors changing the law, said that under the current law, "Every home can be shown to be worth less than a site for a Costco."

To date, 42 states have revised their eminent domain laws since the landmark 2005 Kelo v. City of New London Supreme Court ruling.

New York's City Council is considering legislation proposed by Council Member Hiram Monserrate that would require the inclusion of more detailed financial impact statements for projects the city is considering that require the use of eminent domain.

Mr. Monserrate said his legislation could serve as a partial blueprint for changes at the state level.

Mayor Bloomberg has repeatedly stated the need for the use of eminent domain in certain instances, and any legislative change would also likely require the approval of the Assembly speaker, Sheldon Silver (http://www.nysun.com/related_results.php?term=Sheldon+Silver). A spokesman for Mr. Silver declined to comment on whether he would support such changes.

A spokesman for Mr. Bloomberg, Andrew Brent, said in a statement: "The Bloomberg Administration has a clear track record of consenting to the use of eminent domain only when it is absolutely needed for an important public purpose, and even then, as a last resort. If and when those situations arise though, it can be an essential mechanism to allow the city to create a safe environment, develop sustainable communities, and prepare for growth."

A senior attorney for the Institute of Justice, Dana Berliner, said that while she felt the timing of eminent domain alterations was ripe, she was skeptical that it would be tied to the Democratic takeover of the Senate.

"We have had support for eminent domain reform in many states, and it was always a bipartisan effort and it has been led by both parties," she said. "But more than which party is in power it is a question of someone coming forward and ensuring that it really happens."

[JCMAN320]

September 29, 2008, 5:35 pm

Atlantic Yards Faces Another Delay
By Charles V. Bagli

The developer of the ambitious Atlantic Yards arena and residential complex in Brooklyn said Monday that the project could be delayed for another six months after a state appellate court failed to dismiss a court challenge brought by opponents of the $4 billion project.

Earlier this month, the developer Bruce C. Ratner vowed that he would break ground in December on the long delayed project, where he plans to build an office tower, 15 apartment buildings and a basketball arena for the Nets
.
The developer has fended off a number of lawsuits brought by critics of the project over the past two years. He and state officials had expected that the state Appellate Court would also dismiss the latest suit, which sought to block the state from using eminent domain to seize private property for Mr. Ratner’s project.

Instead, the court denied a motion to dismiss the suit, opening the door for oral arguments in the case next spring.

In a statement, Mr. Ratner said the court ruling “may” delay the project for six months. “Atlantic Yards will be built and it will create thousands of needed jobs and affordable homes,” Mr. Ratner’s statement said. “This is all the more important as our city and country confront one of the most difficult downturns in history.”

Opponents of the project, including the group Develop Don’t Destroy Brooklyn, were thrilled. “The seizure of my clients’ homes and businesses is unconstitutional,” said Matthew Brinckerhoff, a lawyer who filed the lawsuit. “We are pleased that the court has recognized the merit of our case and will now hear the arguments in full.”

Mr. Ratner, chief executive of Forest City Ratner companies, is also awaiting a ruling by the Internal Revenue Service on whether he can issue tax exempt bonds to pay for the $1 billion arena, which is the first project to be built.

Barclays Bank, which had signed a $20 million a year sponsorship and naming rights deal for the arena, said yesterday that it was still behind the project. A clause in its contract with Forest City requires the developer to close on the property by the end of November.

“We look forward to being in Brooklyn with our partners at Forest City Ratner and the Nets,” said Peter Truell, a spokesman for Barclays

[Derek2k3]

Ugh...These lawsuits only delay the project and make it more expensive to build. Then everyone will act shocked and heckle Ratner when he has to ask for more money, reduce the number of affordable units, or remove some public space. Then NIMBY's will file another lawsuit at that point too.

It is nearly impossible for any grand scale project to come into fruition in this city. I'm surprised developers even try. The city can't even get its own projects built. Imagine if the city won the olympics and tried to build all those venues by 2012. Please.

[brianac]

September 29. 2008 3:17PM

Barclays committed to Brooklyn arena

Court setback imperils Atlantic Yards ground breaking but bank statement is a boost.

http://cnimg.sv.publicus.com/apps/pbcsi.dll/bilde?Site=CN&Date=20080929&Category=FREE&ArtNo=809299971&Ref=AR&Profile=1058&maxw=319&border=0 Bloomberg News
Barclays Bank says it is committed to the planned basketball arena at the Atlantic Yards project despite a court setback which imperils a planned ground breaking.

A state Appellate Court panel Monday rejected a plea by the state’s Empire State Development Corp. and Forest City Ratner to dismiss a lawsuit alleging the use of eminent domain violates the state constitution. A group of 9 property owners and tenants opposed to the project filed the state suit after a similar lawsuit arguing eminent domain violated the U.S. Constitution was rejected by the U.S. Supreme Court in June.

The state now has until Oct. 15 to file a response to the appeal, which means the case will likely not be decided until early 2009. Developer Bruce Ratner had said that he hoped to break ground on the arena as early as December. The decision puts that deadline in jeopardy.

“While the Appellate Division Second Department’s decision to hear the case may delay the project for approximately six months let me be clear that the project will go forward,” Mr. Ratner said, in a statement.

The developer also stressed that the project could boost the city during an economic downturn. "Atlantic Yards will be built and it will create thousands of needed jobs and affordable homes," he said.

Barclays Bank has agreed to pay an estimated $20 million per year for the naming rights to the proposed arena, and is believed to have a clause which allows it to back out the deal if construction on the arena is not started by the end of November.

“We look forward to breaking ground with our partners in Brooklyn,” said a Barclays spokesman.

Financing for the $950 million arena could also be in doubt. The U.S. Treasury Department is set to decide soon whether the project is eligible to use tax-exempt bonds. If those bonds can not be used, the arena’s cost will rise substantially. The company has said it believes it can find financing without using tax-exempt bonds, although that statement came before the intensification of the financial crisis.

“We are confident that when we finally have our day in court, we will show that New York State's condemnation and seizure of my clients' homes and businesses for Forest City Ratner's enrichment violates New York's Constitution,” said Matthew Brinckerhoff, the lead attorney for the 9 tenants and owners.

A spokesman for ESDC says the agency does not comment on pending litigation

http://www.crainsnewyork.com/apps/pbcs.dll/article?AID=/20080929/FREE/809299971/1058&category=FREE&nocache=1

© 2008 Crain Communications, Inc.

[BrooklynLove]

Welcome to the USofA. A country whose model of a (1) court system entertains these baseless stall tactic suits and found OJ innocent, and (2) political system places the nation's financial system in the hands of baffoons who (a) have no idea what commercial paper is, and (b) care only about getting and staying elected. I am about a big a fan of this country that you'll find, but I have to admit that my tolerance has been severely strained this past month.

Pelosi = Silver = speaker = nitz.

Oh, by the way, good morning everyone.

[JCMAN320]

Jersey Journal: In Our Opinion
Nets stuck with Jersey address?

Friday, October 03, 2008

Remember when the New Jersey Nets of the NBA was expected to move out of the Meadowlands Sports Complex to a Frank Gehry-designed arena in Brooklyn?

It is quite possible the Nets will be staying with us a bit longer. The Wall Street crisis and legal problems are close to making a worst case scenario a reality for team owner Bruce Ratner.

Ratner purchased the franchise and used it and the promise of a modern indoor arena as leverage to get New York City and Empire State approvals to construct a billion-dollar-plus project, Atlantic Yards. The complex would include 16 skyscrapers, an 18,000-seat arena for the Nets, and thousands of apartments in Brooklyn.

Last week, Ratner said that the continuous legal battles with those opposed to the project have delayed the arena groundbreaking, once scheduled to open in 2006 and then delayed to 2010. Now the Nets say the arena will be ready in 2011.

At this rate, the Freedom Tower will be filled with tenants before the Nets bounce a ball in Brooklyn.

Four months ago, Goldman Sachs assured that all financing would be in place for a $950 million arena, the Star-Ledger reported. Last week, the financial giant would only issue a "no comment" when asked if the money is there. The Wall Street crisis has put a damper on available credit. Ratner is still hoping the federal government will approve $800 million in tax-exempt bonds backed by the New York City and the state.

As for the Nets, they have been playing in the aging Izod Center that will soon share the neighborhood with Xanadu, a mega-mall. A stone's throw away, the NFL Giants and Jets will be playing in a state-of-art new football stadium.

Having already spent millions, Ratner will not give up his Brooklyn dream. Considering the expensive uphill climb he faces, the Nets owner would be wise to make a deal with the New Jersey Devils for the Nets to play in the new Prudential Center arena in Newark with the idea of keeping the franchise in New Jersey another decade, or longer. Any financing Ratner eventually obtains could go into that part of an already scaled-down version of Atlantic Yards that he cares about - skyscrapers and apartments.

[Scraperfannyc]

Sounds like a biased opinion (surprise, surprise).

[Alonzo-ny]

Jersey City's Take On This Boondoggle

No just that papers.

[NYC4Life]

Brooklyn Paper

October 7, 2008 (http://www.brooklynpaper.com/sections/31/40/)

Save the date: DDDB walkathon as Yards looks shaky


By Evan Gardner
for The Brooklyn Paper


The annual walkathon to raise money to fight Bruce Ratner’s Atlantic Yards mega-development is going undercover — under cover of darkness, that is.

For the first time, the four-year-old tradition of marching in and around the footprint of the faltering $4-billion, 16-skyscraper, arena, residential and office space complex will be held at night — with participants carrying candles.

“We’re doing it to shed light on [the developer’s and the state’s] abuses, and we’re hoping that politicians will also see the light,” Daniel Goldstein of Develop Don’t Destroy Brooklyn, one the march’s organizers, said about the twilight gimmick.

DDDB has been fighting the 22-acre mega-project since it was unveiled in 2003 — the heady days of the Brooklyn real-estate boom — and now the group’s battle is reaching a critical phase just as the project appears to be collapsing under its own weight.

Ratner has won virtually every legal round so far — but just as it looked like he would clear a court hurdle, a state appellate panel ruled last month that a key suit would go ahead — with oral arguments next year.

That decision will delay the project for at least another six months, Ratner said — and opponents believe that the faltering economy, a crippling credit crunch, soaring costs, and the reluctance of state lawmakers to provide additional subsidies, will kill it for good.


So that could turn this event from a walkathon to a victory lap.
One thing is for sure, so many people despise this project that it’s even bringing together liberals, conservatives, Libertarians and Greens.

“[We’re joining to] literally walk for freedom and property rights,” said Richard Cooper, a spokesman for the state Libertarian party.

Of course, this event is not just about political parties; the walkathon ends with a dance party at the Brooklyn Lyceum.

— Evan Gardner



©2008 The Brooklyn Paper

[BrooklynLove]

snore.

more importantly my heloc rate just dropped below 4%. our economy is F'd.

[NYC4Life]

NY1

Updated 1:04 PM

Brooklyn BP Defends Donations From Atlantic Yards Developer

http://img510.imageshack.us/img510/3591/82561580wb7.jpg

Real estate developer Bruce Ratner, and others involved in multi-billion-dollar Atlantic Yards project, have given at least $680,000 to pet projects set up by Brooklyn Borough President Marty Markowitz, it was revealed today.

The New York Post says Nets owner Bruce Ratner and others involved in the $4 billion plan to build a sports arena and office complex, have given at least $680,000 to three non-profits set up by Markowitz.

The paper says the donations helped promote Brooklyn tourism and cultural events.

The government watchdog group Citizens Union calls the donations "a new area of potential conflicts of interest."

Markowitz defended the donations, saying that he has always been a proponent of this project and these contributions had no affect on his support.

"Make no mistake, I advocated for this project with no strings attached, no promise of any reciprocal support whatsoever," he said in a statement. "And I continue to do so adamantly because it will be a major catalyst for continuing what we call the 'Brooklyn Renaissance.'"

Markowitz says he is proud of what his non-profits have accomplished.

A spokesman for Ratner's real estate company says it is very proud to support Markowitz's charities.


Copyright © 2008 NY1 News. All rights reserved.

[ZippyTheChimp]

Bad timing, Marty. No one is in the mood.

[BrooklynRider]

He's a lapdog - and a blowhard.

[NYC4Life]

Curbed.com

Landscape Architect Olin Out at Atlantic Yards

http://s3.amazonaws.com/trd_three/images/53165/laurie_olin_articlebox.jpg

Tuesday, October 14, 2008, by Robert

http://curbed.com/uploads/2008_10_Olin.jpg

Is it rats jumping from Bruce Ratner's (possibly) sinking ship called Atlantic Yards or something else? (http://atlanticyardsreport.blogspot.com/2008/10/landscape-architect-olin-leaves-ay.html) Noted landscape architect Laurie Olin has confirmed he is off the job: "We enjoyed a supportive and appreciative relationship with the owner/developer, the architects and the City of New York public officials. The current economic turmoil points to the truth that plans of such scope almost inevitably are realized over several economic cycles and must both be able to endure as well as be flexible to change." (Translation: money troubles.) There are also implications that a certain architect named Frank might go (at least, in part) too. [AYR]

[STEAMWORKSNYC]

And so it begins..:(

[NoyokA]

Gehry's 79, he'll need Philip Johnson's genes to see this through.

[NYC4Life]

NY Post

BANK: WE WON'T BAIL OUT ON NETS ARENA

By RICH CALDER

Last updated: 11:27 am
November 14, 2008
Posted: 4:50 am
November 14, 2008


Despite the slumping economy, a British bank is standing by Brooklyn's planned Nets arena.

Barclays bank vowed yesterday not to exercise an out clause and kill its record $400 million naming-rights deal for the venue, the centerpiece of developer Bruce Ratner's $4 billion Atlantic Yards project.

The deal was contingent on Ratner's having financing for his entire project - which also includes 16 towers of residential and office space - set by the end of this month. That is now impossible because of pending litigation to block the project.

But sources told The Post that Barclays agreed to an extension.

"Barclays is unwavering in its commitment to the Barclays Center," said Gerard LaRocca, a chief administrative officer for Barclays.


Copyright 2008 NYP Holdings, Inc. All rights reserved.

[NYC4Life]

Curbed.com

Updated On 12/03/08 at 02:34PM

Work stops at Atlantic Yards

Developer Forest City Ratner's subcontractors at the Atlantic Yards site have stopped working. The Empire State Development Corp., which is overseeing the development through the public review process, said the contractors have "done all the preliminary work they can complete until the lawsuits are taken care of." On the sports radio station WFAN, Brett Yormark, president of the Nets, said today he is confident that the arena will be open for the 2011-2012 season.
(http://curbed.com/archives/2008/12/03/another_day_another_load_of_atlantic_yards_fun.php )
More at: [Curbed] (http://curbed.com/archives/2008/12/03/another_day_another_load_of_atlantic_yards_fun.php )

[BrooklynLove]

The selfish lot that is pushing these lawsuits needs to shoulder some of this risk. Total abuse of the court system.

[NYC4Life]

Curbed.com

Atlantic Yards Turns Five Today: Where's the Cake?

Wednesday, December 10, 2008, by Robert

http://curbed.com/uploads/2007_12_nets.jpg

Doesn't that Barclay's Center look nice? While December 10, 2003 might not rank up there with Big Days in American history, it will always carry a special meaning for Brooklynites. It's the day when Bruce Ratner, Borough President Marty Markowitz, then-Gov. George Pataki, Sen. Charles Schumer and a host of other luminaries stood on a stage and announced this incredible new thing called Atlantic Yards. There would be a arena for the Brooklyn Nets and a vast complex of buildings designed by none other than Frank Gehry. Millions of square feet of office, residential and arena space to take over the Vanderbilt Rail Yard in Prospect Heights. Thousands of apartments. A whole new city within a city. And--Yes We Can!!!!--the Brooklyn Nets would be playing there by....2006. Err. Oops on that. Try 2011, 2012, 2013 or never.

DDDB sends out birthday greetings this way to our, er, Kindergarten student:
Today we mark five years of fighting what has become the poster child for abusive over-development, development that subverts democracy, eminent domain abuse, bad government, developer and architect hubris, opaque financing, poor planning (etc.) across the city and beyond. Today, as we mark the five year struggle against the project, Mr. Ratner's land grab is at a stand still. While his real estate speculation firm is able to demolish the properties he purchased under the threat of eminent domain, he cannot start construction of his project while it faces two legal challenges in court, and the global fiscal meltdown isn't helping either. And if the plaintiffs win either of those two pending lawsuits, Atlantic Yards cannot be built.
We had a stall (http://curbed.com/archives/2008/03/21/atlantic_yards_stall_miss_brooklyn_housing_tossed. php). Now we have a halt (http://curbed.com/archives/2008/12/04/its_official_we_now_have_the_atlantic_yards_halt.p hp). Who knows what we'll have on December 10, 2009.

[NYC4Life]

NY Daily News

Atlantic Yards will go up . . . when economy does

BY ERIN DURKIN and JOTHAM SEDERSTROM
DAILY NEWS STAFF WRITERS
Thursday, December 11th 2008, 9:58 AM

Top brass behind Brooklyn's Atlantic Yards project insisted Wednesday the $4.2 billion project would survive the crumbling economy - but conceded there will likely be further delays and didn't have a construction time line.

"I think we can successfully delay until we are prepared to start [the project]," Forest City Enterprises President Charles Ratner told investors just hours before the price of the company's stock fell 15%, to $7.02 a share.

"I can't tell you in this market when that can be. How long?" Ratner said. "I don't know."

Ratner said that with the exception of the 22-acre Brooklyn project, the company has "put virtually all new development on hold until economic and financial market conditions improve meaningfully."

In a reversal from an earlier 2018 target date, Ratner also refused to commit to a time line for the ambitious Atlantic Yards NBA arena and 16 towers, insisting the economy would dictate when it will be built.

The gloomy forecast comes on the heels of a decision to halt construction at the site until a lawsuit challenging the use of eminent domain is settled early next year.

Ratner Wednesday insisted the lawsuit - and not the crumbling economy - had been behind the halt.

"Until we get our lawsuits resolved, and some of the hurdles overcome, we appropriately stopped what we were doing," said Ratner of the November construction halt, a reversal of an earlier claim by Forest City officials that construction would continue.

Residents near the site reacted to the potential delays with a mixture of glee and fear, many voicing worries the land could remain untouched for years to come.

"I'm happy about anything that stops the project," said Vesna Bricelj, a designer who lives on Pacific St. "I just don't want to be left with a bunch of holes in the ground, which is what they've done."

Andy Weeks, a supporter of the project who also lives on Pacific St., said the frequent delays were a bother. "I would like to see it move forward," said Weeks, 31. "It's frustrating to me that it starts and stops so often."


© Copyright 2008 NYDailyNews.com.

[NYC4Life]

New York Magazine

14. Because Sometimes Immense, Gratuitous, Noncontextual Acts of Real-estate Ego Don’t Pan Out…

By Robert Kolker (http://nymag.com/nymag/author_385) Published Dec 14, 2008


http://images.nymag.com/news/articles/reasonstoloveny/2008/loveny081222_14_560.jpg
A model of Atlantic Yards. (Photo: Courtesy of Gehry Partners)


They say New York is the place where your greatest dreams can come true. Of course, it’s also a place where those dreams can die on the vine.

Take Atlantic Yards. Lending new meaning to the term noncontextual, Bruce Ratner’s $4.2 billion, 22-acre combination of residential towers and office buildings, anchored by a basketball arena for the Nets, was supposed to completely transform downtown Brooklyn—with seemingly little thought given to what it might do to the already paralyzed intersection of Atlantic and Flatbush Avenues. (Did I mention I live two blocks away?)

Ratner promised a Frank Gehry design for the arena and 15,000 union construction jobs. In return, he seemed to get $100 million in cash from both the city and the state, plus tax breaks running up to $1.5 billion.

Some neighbors resisted right away, at first with little apparent effect.

Ratner dialed down the size of his plan slightly, but more than a half-dozen lawsuits never seemed to get real traction.

In the end, though, all the project’s opponents may have had to do was delay the game until the market changed. Bigger New York dreams than Ratner’s have failed to make it off the drawing board—remember Trump’s Television City, or Rudy’s West Side Yankee Stadium, or Mike’s Olympics? Sure enough, this past January, Ratner’s lawyers hinted in court papers about “a serious question as to whether, given the current state of the debt market, the underwriters will be able to proceed with the financing for the arena while the appeal is pending.” This month, Ratner stopped work at the main site entirely. His spokesman insists this just means “preliminary work” is on hold—but opponents are all but declaring victory.

“He is delaying his own project because of a serious lack of financing,” said Develop Don’t Destroy Brooklyn spokesman Daniel Goldstein.

Ratner still has some momentum: The courts say he’s entitled to tax-exempt bonds for the arena (though getting buyers during the credit crunch seems iffy); Barclays still wants arena-naming rights; Bloomberg’s a friend. Ratner’s also still highly motivated: The Nets are clearly worth more if he moves the team to Brooklyn. But Ratner has reportedly laid off workers, and he’s admitted he won’t build anything other than the arena without an anchor tenant for the tallest building. Five years ago, Gehry said what he really wanted was the chance “to build a neighborhood from scratch in an urban setting.” At the moment, the old neighborhood is winning. Score two points for entropy.


Copyright © 2008, New York Media LLC. All Rights Reserved.

[BrooklynLove]

Maybe the media (including blogs) will finally stop paying attention to this project and as a result stop spewing uninformed biased reports.

[lofter1]

First let's make sure that it's safely entombed within the burial plot of Dead Projects.

[BrooklynLove]

^Not going to happen unless the economy get worse still and then doesn't get better for a long long time.

[ablarc]

First let's make sure that it's safely entombed within the burial plot of Dead Projects.
Why?

lofter: What really is so bad about this project that it deserves so much of your bile?

Is ten years of trash-strewn lots really preferable? And exposed railyards?

[lofter1]

A) The financing is non-existent. It never was in place. It's a Ratner scheme / scam to enrich himself while sucking money out of the public coffers. I've seen nothing which would lead me to believe otherwise. What more needs to be said?

[ablarc]

^ So how much money did he suck out of the public coffers?

Is it gone forever?

Where in the public coffers did he suck it from?

Can he be made to give it back?

[lofter1]

Don't know (Ask Zippy, he might have access to the info)

Ditto

Ditto

Doubt it

[ablarc]

^ Are you sure he actually did the sucking? Or was he just intending to --and never really got his hands on any public funds?

Surely, if public funds were actually paid out, this would be a matter of public record.

So, since you're such an avid researcher: why don't you dig up the facts?

[BrooklynLove]

Rhetoric.

[lofter1]

Ratneric ^

If anybody wants the skinny on Ratner's financing why not give his office a direct call? He's always upfront about what's going on :cool:

And Gehry as a City Planner? Look again. This site and plan are a mess.

[TREPYE]

New York Magazine

14. Because Sometimes Immense, Gratuitous, Noncontextual Acts of Real-estate Ego Don’t Pan Out…

By Robert Kolker (http://nymag.com/nymag/author_385) Published Dec 14, 2008


They say New York is the place where your greatest dreams can come true. Of course, it’s also a place where those dreams can die on the vine.

Take Atlantic Yards. Lending new meaning to the term noncontextual, Bruce Ratner’s $4.2 billion, 22-acre combination of residential towers and office buildings, anchored by a basketball arena for the Nets, was supposed to completely transform downtown Brooklyn—with seemingly little thought given to what it might do to the already paralyzed intersection of Atlantic and Flatbush Avenues. (Did I mention I live two blocks away?)

Copyright © 2008, New York Media LLC. All Rights Reserved.


Objectivity-- such an essential part of reporting. It is the difference between making a piece of paper a tool of enrichment and knowledge or something that could be used only for curbing your dog.

[lofter1]

Future unclear for Atlantic Yards

THE REAL DEAL (http://ny.therealdeal.com/articles/future-unclear-for-atlantic-yards)
12.17.08

http://s3.amazonaws.com/trd_three/images/59914/ratner_articlebox.jpg
Bruce Ratner

With the financial crisis swallowing planned developments in the city, there is a question about whether Forest City Ratner will be able to build the Atlantic Yards project. Forest City executives insist they are committed to the project and will move forward after the lawsuits against the project are settled. However, according to some sources familiar with the project, Forest City Ratner is scrambling for extra money, trying to delay tens of millions in payments and speed up money it is owed by public entities. Forest City Enterprises, parent company of Forest City Ratner, has seen a 92 percent drop in stock value this year.

More at: [NYO] (http://www.observer.com/2008/real-estate/atlantic-yards-becomes-question-mark) <<< Lots of the financial info in that article -- not good news for Forest Ratner, well beyond this project.

[lofter1]

... got his hands on any public funds?

Surely, if public funds were actually paid out, this would be a matter of public record.

How does $40 MILLION from NYC sound? Is that actual enough :confused:

From the NY OBSERVER (http://www.observer.com/2008/real-estate/atlantic-yards-becomes-question-mark?page=0%2C1):


... TO EASE the financial pressures on the project, Forest City is attempting to change some terms with various city and state agencies, according to multiple people familiar with discussions.

The developer is due to owe the M.T.A. $100 million when it closes on the three-block Vanderbilt rail yards .... But financing is nearly impossible to find and Forest City is hardly swimming in cash. Thus, according to one person familiar with talks, the developer has asked the M.T.A. to restructure the payments so it does not pay the full $100 million upfront.

The developer is seeking the converse from the city, which owes Forest City a total of $100 million in direct payments to be spread out over time. About $40 million of this sum has already been paid to Forest City, and according to multiple people familiar with discussions, the city is considering speeding up the payments on the balance ...


Given the situation the City might want to reconsider speeding up any of those payments to Bruce and his boys.

[Shadly]

Meanwhile, back at the ranch, the MTA's broke and the city has major budget issues.

This guy must have the biggest pair in human history. They must hang down pretty low as well.

[ablarc]

How does $40 MILLION from NYC sound? Is that actual enough :confused:
That's actual enough.

Always good to have facts to go with accusations.

(Otherwise, it's libel.)