Results tagged “halt”

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.

In a striking reversal, developer Bruce Ratner has halted work at a location that is integral to his controversial $4.2 billion plan to build a Nets basketball arena, office towers and thousands of apartments in Brooklyn. Ratner has previously insisted that work would continue despite lawsuits attempting to stop the project, even vowing to break ground on the stadium this month. Now a spokesman for his comany, Forest City Ratner, tells the Daily News that "preliminary construction" at the MTA-owned Vanderbilt Rail Yards is being put on hold.