The Public Authorities Control Board votred to approve the Atlantic Yards project. This means the last minute effort to convince Assembly Speaker Sheldon Silver to vote yes on the project worked, and Governor Pataki can leave office knowing that the project passed during his term. However, expect lawsuits to delay the project from going forward.
The Brooklyn project will span 22 acres in downtown Brooklyn and will cost $4 billion. Here's the Atlantic Yards website, and here's a website for a group trying to stop the project, Develop - Don't Destroy Brooklyn. And the Atlantic Yards Report has been offering great commentary overall. Plus, Wikipedia on Atlantic Yards and Gothamist's previous coverage.