The Brooklyn Paper on 8/27/13 published Atlantic Yards goes public! Ratner puts a major chunk of the project on the chopping block, but vows to keep control, with what I then identified skeptically as the key paragraph:
“The delays [in the project] were caused primarily by the multiple lawsuits that were brought against the project,” said company spokesman Joe DePlasco.I explained why that was unreliable, citing the company's unrealistic projections--which were compounded by the recession--but now there's proof from someone more authoritative.
My article Monday in the Commercial Observer, Barclays Center Seeks Second-Year ‘Efficiencies’, quoted Forest City Enterprises CEO David LaRue, speaking to investment analysts regarding the proposed sale of 50 to 80 percent of Atlantic Yards.
In some ways, of course, the delays were helpful, given that the arena arrived as Brooklyn buzz continued, and the market for apartments in Brooklyn has re-heated.