Brooklyn Nets fans poured into Prospect Heights Monday night for the second game of the NBA playoffs, but most didn’t stop by area businesses on their way into the arena.This is consistent with previous reports; I'd note that a promised cross-marketing program doesn't seem fully launched, with information on the arena app but not website. After all, there's a tension between promoting area businesses and keeping the food and drink traffic in-house.
The promise of an influx of hungry ticket holders was part of the argument arena proponents used to push for the Barclays Center. And before concerts the new customers have materialized with restaurants as far away as Clinton Hill and Carroll Gardens reporting a bump in diners.
But the picture is different on Nets game nights when only a selection of large sports bars and a handful of casual restaurants near the arena say they’re seeing an influx of Nets fans.
Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.
The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.
While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…