Wednesday, May 18, 2011

Consultant says arena one month ahead of schedule, transit connection two months; what about the Carlton Avenue Bridge?

According to the latest Site Observation Report, dated 5/16/11 and based on a 3/24/11 site observation, on the Barclays Center arena construction, produced by Merritt & Harris, consultants to the real estate lending and investment community, the arena is still ahead of schedule.

The report indicates that the arena is one month ahead of schedule, based on cash flow projections, and the Transit Connection to the Atlantic Avenue/Pacific Street station is about two months ahead of schedule.

Note, however, as mentioned below, last month the substantial completion date and final completion date for the arena had been moved back.

According to the graphics below (click to enlarge), spending on the arena, and presumably work at the site, is expected to increase markedly in the next year.

The arena

The transit connection


According to the report, the Atlantic Yards and Mass Transit Improvement construction schedule, dated 1/17/11, indicates completion scheduled for 3/26/12. That schedule is considered reasonable; it had slipped by one month, but then went ahead by two months.


What about the bridge?

Though Site Observation Reports periodically address spending on the Carlton Avenue Bridge, they do not address the schedule for the bridge.

It was supposed to take two years to rebuild, but could take up to five, and is required only to reopen before the arena opens.

As I wrote 2/24/11, it had been nudged back several times, with the latest projected (by city Department of Transportation) completion date "summer of 2012."

Pending issues

Final drawings incorporating all changes in the arena design were due 4/1/11.

As noted in the the 4/4/11 Site Observation Report:
  • the substantial completion date has been nudged back two weeks from 8/12/12 to 8/27/12
  • a final completion date, involving punch list work and subcontractor close-outs, has been pushed back three-and-a-half months, from 2/28/13 to 6/14/13.
Hockey study

The document from both this month and last month include numerous change orders, including $2928--a relatively small sum--for a "Hockey Sightline Study."

At least according to comments made last month by Forest City executive Bob Sanna, the sightlines wouldn't work for major league hockey.

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