Atlantic Yards Project Falling Apart, Gehry Fires Staff

Late last month, architect Frank Gehry dismissed more than two dozen staffers working on designs for the embattled Atlantic Yards project in Brooklyn, the Wall Street Journal reports. The terminations came despite the fact that most of the proposed $4.2 billion project—which would include a Nets basketball arena, office towers and thousands of apartments—has not been designed, as Develop Don't Destroy points out. Both Gehry Partners LLP and Forest City Ratner, the company behind the project, declined to comment. But earlier this month Forest City abruptly stopped work at the site, and they don't even have the $100 million to buy the Vanderbilt Rail Yard from the MTA. In a thorough article in this week's Observer, the venture is viewed as being on the verge of "collapse," and Bruce Ratner "seems to be rushing to patch a leaky dam." Ratner may clear the last of his legal hurdles next year, but it's unclear if he'll have the financing to move forward in this current economy.

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By John Del Signore in News on December 17, 2008 3:48 PM

Comments [rss]

TooTallJeff

When are the Nets coming to Brooklyn?

Snoopy

What this city needs is a good velodrome.

bentb

make it a park. may humanize that area.

blablanyc

The improbable appears to be improbable. $177 million due in February? Woah.

blablanyc

The improbable appears to be improbable. $177 million due in February? Woah.

Spirit of 76

Pour a concrete liner and make it the site to replace McCarren Pool for concerts and events.

I hope Ratner loses his shirt, but we couldn't be that lucky.