Wednesday, October 15, 2008

Atlantic Yards Arena Delayed Yet Another Year

Bruce Ratner has announced that a recent court ruling would again delay the construction of his massive, community-eviscerating Atlantic Yards project - this time until 2011.

The total projected cost of Forest City Ratner's plans has exploded beyond its original estimates and now, with the economic crisis, Ratner is having a tough time borrowing money to finance his complex. The lucrative naming rights deal with Barclays Capital for the Nets' arena also appears in jeopardy.

Give up, Ratner. Brooklyn won. You lost. Go back to Cleveland.

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