Key Steps for Brooklyn Arena Plan as Critics Fight On
Thursday, December 24, 2009
New York, NY –
Plans for a new basketball arena in Brooklyn are gaining momentum, but opponents say they'll keep trying to stop the massive project.
Developer Forest City Ratner signed key documents yesterday, letting the nearly $5-billion, 22-acre Atlantic Yards project to proceed, and a state agency moved to condemn some property needed for the Brooklyn development.
Last week, the developer sold more than $500-million in bonds to finance the arena, and completed a plan to sell 80 percent of the team and 45 percent of the venue to Russian billionaire Mikhail Prokhorov.
But lawsuits against the project continue. Opponents say the project would destroy a neighborhood to enrich private interests in the name of public benefit. They vow to challenge the condemnation, or forced sale.
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.