Ratner Says Atlantic Yards Project Is On Track Despite Delays
May 5, 2008
Developer Bruce Ratner says the Atlantic Yards project is moving forward — and he’s vowing to break ground on a basketball arena this year.
In an op-ed piece in Sunday’s Daily News, Ratner dismisses rumors that the struggling economy and numerous court challenges have virtually halted the project.
While acknowledging that progress has come slower than expected, Ratner says the plan is moving in the right direction.
Published reports had speculated that he was considering scaling down the project and even entertaining offers by the city of Newark to keep the Nets in New Jersey.
Plans call for the 22-acre site on Atlantic Avenue in Brooklyn to be filled with apartment buildings, stores, an iconic tower and an arena for the Nets.
Ratner blames the delays on the lengthy public review process, the high number of court challenges and the slowing economy.
But he says he plans to start construction on the arena later this year, followed soon after by residential buildings and then the so-called “Miss Brooklyn” tower.
He says the entire project is on track to be completed by 2018.
Source: NY1
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