The Garden is being renovated without state or city subsidies, although it will continue to benefit from its longtime property tax exemption. To pay for the work, the Garden has said that the cost of Knicks season tickets will jump an average 49 percent, and Rangers seats will go up by 23 percent. Twenty new courtside-access suites (fitted with bathrooms and fireplaces) have a yearly rental fee of about $1 million each; all are spoken for. Their food spectrum will be drawn from Mr. Vongerichten’s suite menu and the other upscale concessionaires.Will the future coverage of the Barclays Center, describing all the ways the Nets are trying to play to the public, mention the subsidies, tax breaks, naming rights and luxury suites behind the new building?
This watchdog blog, by journalist Norman Oder, offers analysis, commentary, and reportage about the $4.9B project to build the Barclays Center arena and 15-16 towers at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park Brooklyn in 2014 after the Chinese government-owned Greenland Group bought a 70% stake going forward. As of 2018, after the arena and four towers were built, Greenland will own 95% of future construction.