Last week and this one I'll try to compensate slightly for the failure of any metro columnists to show up and glean insights from the rich spectacle of the Barclays Center groundbreaking March 11. It was a brilliant move, Jay-Z front and center, relying on the unsurprising shallowness of a star-struck press. Consider that the New Jersey Nets, the team destined for the Atlantic Yards arena, is contending for the NBA record for losses. And that the majority owner of the team--and owner of nearly half of the arena--should soon be Russia's richest oligarch, Mikhail Prokhorov, a most peculiar beneficiary of significant government subsidies, tax breaks, and the extraordinary power of eminent domain. Solution: heap attention on the celebrity who owns a tiny piece of the team. Was Jay-Z used? Well, maybe, but you can't hustle a hustler who became a world-class celebrity. If Jay-Z can open the new Barclays Center, it all will be worth it--even enduring a discomfiting introduction...
This watchdog blog, by journalist Norman Oder, covers the 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 Shanghai-based Greenland USA took a majority share. Forest City left in 2018. Eight towers and the arena have been built. After a stall, Cirrus and LCOR in 2025 took over as master developers. A plan to complete the project is pending.