Results tagged “atlanticyards”

Despite their best efforts, a coalition of homeless people and community activists failed to arrest Atlantic Yards developer Bruce Ratner. Though the man behind the $4.9 billion plan to move one of the worst teams in NBA history to Brooklyn isn't facing an indictment and there are no warrants out for his arrest, the demonstrators planned to lock him up over allegations of bribery at a widely publicized rally they held in front of his Downtown Brooklyn building. more ›

Opponents of the Atlantic Yards project have tried to halt the mega-project with murals, lawsuits, and protests. On Wednesday, they'll try a new technique: arresting Atlantic Yards developer Bruce Ratner. Following the closure of a Prospect Heights homeless shelter last week to make room for the $4.9 billion arena and high-rise development, a group of anti-Atlantic Yards activists announced that they will make a citizen's arrest of Ratner, according to Curbed. more ›

A Prospect Heights homeless shelter that housed about 80 families was itself made homeless over the weekend, to make room for the controversial Barclay's Center/Atlantic Yards project. Thirty-five families have been moved from the Pacific Dean Annex shelter to permanent housing, and 45 to other shelters, over the protest of local politicians and pop singer Crystal Waters, whose 1990s hit song “Gypsy Woman” is about a homeless woman that sings for her supper. Waters joined Council Member Letitia James and other community activists Saturday night at a protest rally at Freddy's Bar, which is also slated for demolition. In a statement, James blasted the Atlantic Yards project: more ›

The Long Island Rail Road's newly opened Atlantic Terminal Pavilion was decades in the making, and as such, the builders want to make sure it stands the test of time. So they surrounded it with "14 massive coffin-shaped concrete-and-granite bollards to ward off potential, though unspecified, terror attacks," according to the Brooklyn Paper. more ›

Here's a sign that the Atlantic Yards project might actually get built — longstanding opponent Daniel Goldstein has started to look for a new place to live, according to the Associated Press. Goldstein, the most vocal adversary of developer Bruce Ratner's plan to move the New Jersey Nets to Brooklyn and construct a high-rise housing complex, currently resides within the project's footprint and would be forced out using eminent domain proceedings. Though the wire service reports "he isn't ready to concede defeat," Goldstein has apparently started thinking about finding a new place to live. This comes after the seemingly beleaguered project won a major victory when a court dismissed a lawsuit challenging its use of eminent domain, and after Ratner finally closed on the $4.9 billion deal. In November, the state gave Goldstein a lowball offer for his Prospect Heights condo, promising him $80,000 less than he spent to buy it in 2003. more ›

In the months before developer Bruce Ratner closed the deal on his $4.9 billion plan to move the New Jersey Nets to Brooklyn and construct high-rise buildings on the Atlantic Yards site, someone painted over a series of murals created by opponents of the project — and anti-Atlantic Yards activists claim that Ratner is at fault. more ›

Last month New York's top court ruled that the state can use eminent domain to force homeowners and businesses to sell their properties to make way for developer Bruce Ratner's embattled Atlantic Yards project in Brooklyn. One victim of this ruling is Freddy's Bar & Backroom on Dean Street; the place is known for its monthly diorama competitions and was named one of the best bars in America by Esquire magazine in 2006. In a noble attempt to save Freddy's from the wrecking ball, on Sunday afternoon patrons drank beer while handcuffed to the bar for about an hour. Your move, Ratner. more ›

The poor, poor NJ Nets. Not only are they 2-24 for the season so far (they lost to the Utah Jazz by 16 points last night) and not only is their mythical Brooklyn home still in progress, now a plan to relieve them from the Meadowlands and move them to more easily accessible Newark has apparently fallen through! more ›

Developer Bruce Ratner's Atlantic Yards project "cleared a major hurdle," according to the Daily News, by selling $511 million in tax-free bonds for the arena's financing yesterday. Apparently the bonds were selling like hotcakes—the NY Times says they were sold out in two hours, "Indeed, the demand for the bonds from institutional investors far outstripped what was available and belied the project’s tortured history and court challenges." more ›

Pity the Nets, they play for our sins. They started the season a record-breaking 0-18, finally won a game last week under new head coach/GM Kiki Vandeweghe, then dropped a stinker to the slightly-less-worse Knicks last night at the Garden. The Knicks and Nets are both playing the salary cap game right now, waving a white flag this season while trying to free up space to lure some of the superstars available in next years free agent bonanza to come over and revitalize each franchise. more ›

The NY State Court of Appeals, the highest in the state, dismissed a lawsuit challenging the use of eminent domain for developer Bruce Ratner's Atlantic Yards project. The NY Times calls the lawsuit the "last major obstacle" for Ratner, "whose 22-acre development has been delayed for three years by a flurry of lawsuits, the collapse of the credit and real estate markets and a glut of luxury housing, plans to begin selling tax-free bonds next month to finance the development’s cornerstone project: an 18,000-seat basketball arena for the New Jersey Nets at the intersection of Flatbush and Atlantic Avenues near downtown." more ›

Daniel Goldstein — the city's most prominent Atlantic Yards opponent — was low-balled by the state with an eminent domain offer of just $510,000 for a three-bedroom Prospect Heights condo he purchased for $590,000 in 2003. It's also less than half what mega-developer Bruce Ratner offered Goldstein for the home, which, alongside Goldstein's lawsuits, stand in the way of $4.9 billion plan. Goldstein believes the state made such a low offer "to deter people from fighting like we have," but others say it's the real estate downturn, which has put the entire Atlantic Yards project on thin ice. In the coming days, the state's highest court is expected to rule on Goldstein's lawsuit alleging that the state is improperly using eminent domain to seize private property to benefit Ratner's company — not the public. [Via Brownstoner] more ›

Adding more fuel to the fire about where the Nets may play in the future, the Record says that the Izod Center (at the Meadowlands) and Prudential Center (in Newark) have stopped squabbling and may sign a deal, which "could have the Nets moving to Newark next fall for two seasons (or more) and the Izod Center becoming the long-term concert and family show mecca for North Jersey." The Nets, waiting to hear about what will happen with the Atlantic Yards, have been impressed with the crowds they've gotten at the Prudential Center. more ›

Two preseason games at the Prudential Center in Newark have been so highly attended that the Nets are considering moving there from the Meadowlands while they wait for a new home in Brooklyn. An October 13th preseason game against the Celtics drew 12,790 fans to the Prudential Center, three times the the size of a typical preseason crowd at the Meadowlands' Izod Center. Then, a game against the Knicks drew 15,721. Those are nice numbers, but getting out of their lease could cost Nets owner and Atlantic Yards developer Bruce Ratner millions. more ›

Days after the Post had one of their "sources" describe Brooklyn Borough President Marty Markowitz as "angry and embarrassed" over the prospect of a Russian-owned Nyets team at the embattled Atlantic Yards site in Brooklyn, Marty's fired back. Far from being embarrassed, he's simply delighted: "Brooklyn is the Russian capital of America, so [Russian playboy Mikhail] Prokhorov will feel right at home here, and I have been assured he will put the interests of Brooklyn first." Plus, given those Russkies' historic knack for winning basketball games against all odds, maybe New York will finally get a b-ball team to be proud of again? more ›

The Post gets one of their juicy "sources" to dish on Brooklyn Borough President Marty Markowitz's reaction to the idea of a Russian-owned Nyets team. Markowitz, a big Atlantic Yards booster throughout the controversy and delays, is feeling a little burned at this point, according to "one operative": "It's a combination of anger and embarrassment. He signed on to a magnificent Frank Gehry-designed Brooklyn palace in the sky, and now he's got a foreign-owned big hole in the ground." But fuggedaboutit; it's still the best hole in the best borough of New York! more ›

On the heels of Russian billionaire Mikhail Prokhorov's blog confirmation of rumors that he'll help finance the Bruce Ratner's embattled Nets stadium, Forest City Ratner has issued a statement detailing the "strategic partnership for the development of the Atlantic Yards Project." According to the press release, "entities to be formed by Prokhorov's Onexim Group will invest $200 million and make certain contingent funding commitments to acquire 45% of the arena project and 80% of the NBA team." The tentative $200 million deal would also involve Prokhorov taking on some of the team’s debts and reducing Ratner’s 23 percent stake. more ›

A translation of Russian billionaire tycoon Mikhail Prokhorov's Russian blog sheds a little light on his reasons for financing the Nets arena and Atlantic Yards. Besides attracting Western capital, he mentions "access to all modern technology and training methods with the possibility of using them in Russia," and then goes on to detail how the team could be used to place Russian trainers, managers, and players into the NBA. They may have to rename the team the Nyets! (Via Curbed.) more ›

Atlantic Yards developer Bruce Ratner's quid pro quo relationship with community organizing group ACORN is public knowledge, but now that the group is on the hot seat for those hidden camera humiliations, the Post takes another look. For years, ACORN has rallied its members to enthusiastically support the construction of Ratner's $4.9 billion NBA arena, and in exchange ACORN would help manage tenants for the 2,250 affordable-housing units still planned for Atlantic Yards, to be built someday in the unforeseeable future. more ›

Just when you thought developer Bruce Ratner was about to turn the corner in the P.R. war over his proposed $800 million arena for the Nets in Brooklyn, along comes the city’s Independent Budget Office with a big bucket of ice water. A new analysis concludes that "over a 30-year period, the arena would cost the city nearly $40 million more in spending under current budget plans than it will generate in tax revenues (present value, 2009 dollars)." It also estimates that "for the developer, Forest City Ratner Companies, the mix of special government benefits result in total savings of $726 million." more ›

Developer Bruce Ratner must be relieved this morning to see that big bad Nicholas Ouroussoff at Times does not revile the latest renderings for the Nets arena planned for Brooklyn. You'll recall that Ouroussoff dissed the last designs as "a monstrosity" and "a shameful betrayal of the public trust, one that should enrage all those who care about this city." But bringing young New York firm SHoP on board may be just the lipstick on the boondoggle Ratner needs; Ouroussoff, who had embraced Gehry's vision for the project, calls this new look "somewhat more promising." more ›

After dropping architect Frank Gehry from his embattled Atlantic Yards project, developer Bruce Ratner replaced him with arena designer company Ellerbe Becket, whose revised brick shit-house renderings for a proposed Nets Arena were met with derision. So last week it was revealed that Ratner was doing damage control by bringing in hot New York architecture firm SHoP, and now this morning we have take three on the arena, which is still radically different from Gehry's signature crumpled paper design, but less banal than the last misfire. more ›

When developer Bruce Ratner dropped architect Frank Gehry's designs for his beleaguered Atlantic Yards project in Brooklyn, the reversal was derided as a "stunning bait-and-switch" by the Times architecture critic. Adding insult to injury, the preliminary rendering for the less expensive Nets arena, designed by Midwestern arena designer company Ellerbe Becket, resembled a banal brick airplane hanger perfect for youth hockey and flea markets. But the Observer now reveals that Ratner has brought in hot New York architecture firm SHoP to work with Ellerbe Becket on the $800 million arena and, presumably, put some new lipstick on this boondoggle. (SHoP's the firm that did the pipe dream designs proposed for a new South Street Seaport; Curbed has compiled more of their work.) Yet another round of new renderings are expected to be released this month, so prepare to be pandered to all over again! In the meantime, Ratner is hustling to sell $700 million in bonds to investors before the end of the year in order to qualify for tax-exempt status, while also preparing for the next legal hurdle in October, when the state’s highest court will hear arguments against the use of eminent domain for the project. more ›

A new rendering by the Municipal Art Society suggests that Bruce Ratner's $4.9 billion plan to build a Nets basketball arena and mixed-use towers in Brooklyn is a far cry from what was originally proposed, duh. No official renderings of the 22-acre site have been provided to the public since Ratner revealed that starchitect Frank Gehry's ambitious arena designs had been scrapped to cut costs, so MAS has stepped in to show what the area will look like in the coming years. more ›

Would-be Atlantic Yards developer Bruce Ratner is getting so desperate to alleviate the debt burdening his $4 billion plan to build an ugly Nets stadium and other useless eyesores in Brooklyn that he's frantically trying to sell off most of the team. Officials at his company, Forest City Ratner, publicly deny the sales effort, but the Star-Ledger reports that last week Ratner flew to Moscow to meet face-to-face with billionaire Mikhail Prokhorov, the chief financier for CSKA Moscow. Other potential suckers investors are rumored to include Terry Semel, former CEO of Yahoo and Warner Bros, and some other rich guys with money to burn. Meanwhile, according to Forbes, the Nets dropped 13% in value last season, and morale within the organization is reportedly abysmal due to layoffs, pay cuts, and the team's general habit of sucking. (Granted, not as much as the Knicks.) One former Nets employee tells the Star-Ledger, "They've really created an environment where you don't want to stay there anymore. It's gotten really bad, especially for those of us who have gone through five owners in 10 years. It's just so damn bleak." But bleakness being Russia's specialty, maybe Prokhorov's a perfect fit? more ›

The perpetually embattled Atlantic Yards project—now in the cross-hairs of the state's highest court—still has die hard supporters, but even some are confessing their disappointment. Developer Bruce Ratner's plans have been dramatically downsized from what was proposed back when he was first wooing allies in 2004, and it's unclear when the promised affordable housing and jobs will materialize. Rev. Herbert Daughtry of the Downtown Brooklyn Neighborhood Alliance still backs developer Bruce Ratner, but tells the Daily News he's come to accept the many shortcomings: "Everybody wishes it would be what was originally planned, but given the realities the project had to face, it's a wonder that it's still there. I think it's the best we can do at this point." Less tolerant is Assemblyman Hakeem Jeffries, "The promises made by this developer have disappeared like a house of cards." Last but not least is Councilman David Yassky, who initially supported the project but has since soured on it: "The MTA changing the deal just added insult to injury. This was already a bad deal for taxpayers and now it's an appallingly bad deal." Meanwhile, Ratner insists the underwhelming new renderings released last month were "premature." more ›

During the past week or so, developer Bruce Ratner had finally seemed to have a little wind in his sails as he pushed forward with his $4.2 billion odyssey to build a Nets basketball arena, office towers and thousands of apartments in Brooklyn. The MTA agreed to a sweetheart deal to sell him the Vanderbilt Railyards, and the Empire State Development Corporation [ESDC] brushed off demands that Ratner resubmit his heavily revised plans for another full public review. But now the whole project is back to being embattled, as the state's highest court has agreed to hear the eminent domain lawsuit brought by opponents who say the ESDC is trying to seize private property to benefit Forest City Ratner, not the public. In May, a state appellate court unanimously rejected the lawsuit, and Ratner's attorneys expressed great confidence that the Court of Appeals wouldn't hear the case. At the time, Ratner said, "I’m honestly overjoyed. This is a weight off my back." Now the weight's back on, and, since the court operates on its own timeline, some wonder whether a ruling will be issued within enough time for developer to meet a year-end deadline to secure tax-free arena financing. more ›

With four major sports complexes crowding a 30 mile radius, and another on the way to Brooklyn as part of the embattled Atlantic Yards project, owners are now facing the sobering prospect of one day fighting to fill nearly 100,000 seats, 365 days a year. Mark Rosentraub, a professor of sports management at the University of Michigan, tells the Times, "The market is saturated... Five arenas is not going to work. I don’t think four works, even in a market as large as New York. There’s competition in every direction and there aren’t enough events." Of course, there's been heated debate for years over whether these government-subsidized stadiums—often sold as snake oil panaceas to foundering regional economies—actually contribute much to the community. (Here's one great article on the subject.) Now arenas are hemorrhaging money across the country, the Times reports. But this is New York, and there's always room for one more! Developer Bruce Ratner, demonstrating a vampiric ability not to die from a thousand cuts, scored some major victories last week, and is rushing to break ground on his Brooklyn monstrosity before the end of the year. more ›

The Nets have made a bold move hours before the NBA draft, agreeing to trade Vince Carter to Orlando for three players. The move sets the Nets up to be a major force in the 2010 free agent frenzy. In addition to Carter, the Magic will receive Ryan Anderson. In return the Nets receive Rafer Alston (a Jamaica, Queens native), Tony Battie and Courtney Lee. Alston, who is known as "Skip to My Lou" for his streetball skills, and Battie are free agents after the upcoming season; meaning New Jersey has cleared about $18 million of their cap after 2010. Combine this trade with the approval by the MTA of the revised Atlantic Yards deal and it is clear the Nets will be doing everything they can to get LeBron James to come and join them in Brooklyn. more ›

As expected, the MTA board voted yesterday to approve a less lucrative deal to sell the Vanderbilt Railyards in Prospect Heights to developer Bruce Ratner, who won a bid to buy the property for $100 million (which is less than the land's $200+ million appraised value) in 2005. The MTA will now accept just $20 million up front and the rest in installments over the next two decades. However, a last-minute counter-offer made by Atlantic Yards opponent Develop Don't Destroy Brooklyn, for $120 million to be paid over the next 12 years, was ignored by the MTA. more ›