Showing posts with label forrest Ratner. Show all posts
Showing posts with label forrest Ratner. Show all posts

Thursday, April 14, 2011

Atlantic Yard's Saga continues...

After all of that fighting, the never ending Atlantic Yards project could now end up just being a nondescript stadium and acres of parking. The project's developer, Forest City Ratner, filed documents with the SEC last week that warn of "further delays" to the non-stadium portions of the project that could lead to the scrapping of most or all of the rest of the 22-acre, $4.9 billion project. But hey, at least the city got rid of all that urban blight!




Basically the same cash flow issues (rising construction costs, rising financing rates, inability to meet government deadlines, trouble with sponsorships) that have caused Ratner to start looking into prefab construction may in the end entirely kill the project. Here is how the company's filing describes the situation if any any of those problems get worse:

Read Full Story Here:  http://gothamist.com/2011/04/04/worst_case_atlantic_yards_could_jus.php



Friday, February 1, 2008

Federal Court Rejects Atlantic Yards Appeal:




Federal Court Rejects Atlantic Yards Appeal: Full Coverage
A federal appeals court rejected an appeal by critics of the use of eminent domain in the $4 billion Atlantic Yards mega-project in Brooklyn, a big, if expected, victory for developer Forest City Ratner, and surely a demoralizing blow to project opponents.

The decision nearly puts to rest the legal chapter of this years-long, high-profile development battle. Since the plan was approved more than a year ago, the courts have been the focus of any attention, as Forest City chairman Bruce Ratner has done little work on the Prospect Heights site other than demolitions and some other preparation.

The rejection leaves opponents with few legal avenues left, as the appellants on the lawsuit would need a decision by the U.S. Supreme Court to merely be granted a trial in the case, let alone to come out victorious. Critics had said they put their highest hopes at the federal appellate level, and have previously conceded that it was unlikely the Supreme Court would take the case (the court only hears a few dozen cases a year).




http://www.observer.com
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