A topic that has generated a lot of discussion at Brooklynian.com, the Atlantic Yards development project, was mentioned today in an article in Pro Basketball News:
“While current developments suggest that the $3.5 billion Atlantic Yards arena project is in doubt, the mere prospect of a LeBron [James] defection to Brooklyn should ensure that it remains on course for completion.”
The article is somewhat misleading because the arena is only one small part of the $4 billion project at Atlantic Yards. The cost to build the arena – which would serve as a new home for the New Jersey, er, Brooklyn Nets – has been estimated at $960 million.
The future of the building is still up in the air, no matter what our old friend, developer Bruce Ratner, says. It’s no secret that he still needs to find investors to back those tax-free bonds the federal government recently cleared for him. And we don’t think NBA superstar LeBron James will be enough to convince weary investors to help move the floundering New Jersey Nets to a new home in Brooklyn.
The story, however, shows just how many people are following the progress (or lack thereof) at Atlantic Yards.
Mark Griffith, a community activist in Brooklyn, is monitoring the project. Griffith laments in an interview today with the Brooklyn Rail:
“What I don’t like about Atlantic Yards is that it didn’t start with a conversation. No one said, ‘We’ve got this land here that’s been underutilized, how do we fulfill its greatest potential? How do we build on it and develop it in a way that’s going to build the surrounding community, that is going to be respectful of the surrounding community, and is going to be healthy environmentally, physically, economically, and that’s going to include a lot of different people in the revitalization of this area?’â€
Griffith warns that if the project falls by the wayside, Atlantic Yards will no doubt slip further into blight. That’s a frightening but very real scenario because, as I say above, the future of the arena is uncertain. Moreover, Ratner told the Times (in March!) that construction of the residential complex, the meat of the project, will be on hold “for years.â€
Our solution? One word: park. If you want a third term, Mr. Bloomberg, take it back and turn it into a public park.
Discussion about the Atlantic Yards project continues on Brooklynian.com.