Appeals Court Dismisses Suit Against Atlantic Yards, paving way for Brooklyn Nets arenaPosted by Inside Hoops
The New York Times (Charles V. Bagli) reports: An hour after learning that a state appeals court had dismissed a major challenge to his long-delayed Atlantic Yards development project, the developer Bruce C. Ratner said he planned to break ground by October on an $800 million basketball arena for the New Jersey Nets in Brooklyn. The 20,000-seat arena is only one piece of a proposed 22-acre development at the intersection of Flatbush and Atlantic Avenues that would include an office tower and more than 6,000 apartments, including as many as 2,250 for low- and middle-income families. Given the anemic economy, the housing and the commercial building may have to wait for some time. But Mr. Ratner said he planned to complete the design for the arena, obtain final government approvals and issue the bonds for the project by fall.