James Stuckey, the divisional dean of the New York University Schack Institute of Real Estate resigned abruptly this past Friday, the school told The Real Deal, in a situation reminiscent of how he departed four years ago from a top job at the development firm Forest City Ratner Companies. At NYU, Stuckey left behind a mixed legacy in his two-year tenure, forcing through what some described as necessary changes to improve the school, but was criticized with operating with what they saw as an arrogant and biased management style.

Stuckey resigned last Friday “effective immediately,” said Paola Curcio-Kleinman, executive director of strategic marketing and communications for the School of Continuing and Professional studies, of which the Schack Institute is a part.

She said the school would likely make an announcement in the next few days about who would lead the division, but beyond that she would not comment. … [more]

Empire State Development Corporation and Forest City Ratner Companies have served notice that they intend to fight a July court decision ordering further environmental review of the Atlantic Yards project, Brooklyn Speaks, a civic organization that has for a long time been opposed to the development, announced today.

In July, a Supreme Court judge ruled that the project was subject to another environmental review, as the construction timeline for the second phase of the project was extended to 25 years.

The filing of the appeal by FCRC and ESDC delays ESDC’s obligation to comply with the court order, Brooklyn Speaks said, thus delaying changes to the Atlantic Yards plan that would accelerate the delivery of affordable housing and jobs to the area. – Katherine Clarke… [more]

While Atlantic Yards developer Forest City Ratner has said it hopes to break ground this year on a long-delayed 400-unit residential tower slated for the Downtown Brooklyn project, a company spokesperson says that goal may be a ways off, according to the Brooklyn Paper. Forest City Ratner currently doesn’t have the funding lined up to start the project, the spokesperson said, and that may distort the developer’s timeline for the project. “We hope to release designs in late spring or early summer and still hope to break ground this year,” the spokesperson said. As previously reported, the developer has, however, picked an architect for the residential structure: SHoP Architects, the same company that designed the Barclays Center arena at the Atlantic Yards development. [Brooklyn Paper]

Apple is reportedly eying retail space near Atlantic Yards

Let’s hope Mikhail Prokhorov, the Russian oligarch who invested millions in the Atlantic Yards development, isn’t a Microsoft guy. Rumor has it that Apple has set its sights on a location adjacent to the Downtown Brooklyn project, according to the New York Observer. Insiders say that Apple has even been talking with Atlantic Yards developer Bruce Ratner about potential retail spots in the area. But the tech company still has some major hang-ups, according to some. “They’ve been very gun shy, the Apple people,” a source said. “They’re focusing on the arena area right now, but there’s no space.” … [more]

From left: the Barclays Center construction site in May and in June (source: Brownstoner)

While ground broke on the new Barclays Arena at the Atlantic Yards development in Downtown Brooklyn three months ago, little progress has been made on the construction site, according to Brownstoner. The Brooklyn blog is tracking the development’s progress month-to-month — both photos from the soon-to-be-home of the Nets show little change. The 18,000-seat arena is slated to open for the 2012 basketball season. [Brownstoner]

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From left: the Barclays Center construction site in May and in June (source: Brownstoner)

While ground broke on the new Barclays Arena at the Atlantic Yards development in Downtown Brooklyn three months ago, little progress has been made on the construction site, according to Brownstoner. The Brooklyn blog is tracking the development’s progress month-to-month — both photos from the soon-to-be-home of the Nets show little change. The 18,000-seat arena is slated to open for the 2012 basketball season. [Brownstoner]

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While neighborhood advocate Daniel Goldstein was thought to be the last residential holdout in the Atlantic Yards development’s path, a family was discovered living at 481 Dean Street — and they’re not leaving without a fight, according to the New York Post. The Prospect Heights family, which has yet to be identified by name, has reportedly been offered around $85,000 to relocate but they’re not satisfied with the offering, according to sources close to the family. … [more]

Kent Swig

Turns out Kent Swig isn’t the only one looking to form a real estate investment trust in the financial downturn. With more banks unlikely to hand over cash, high-profile companies like Forest City Ratner Companies and American Realty Capital Trust, are launching REITs, according to Investment News. And they’re not just looking for chump change either — American Realty New York Capital Trust’s new REIT, American Realty New York REIT, is angling to raise as much as $1.5 billion for distressed property purchases. Of course, launching a REIT to ease credit woes isn’t easy-breezy — Swig, for one, will have to get all his lenders and creditors on board before he can move forward with the plan.
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An interior rendering of the Barclays Center and Bruce Ratner

Investors, city officials and developer Bruce Ratner, CEO of Forest City Ratner Companies, came together today to celebrate the groundbreaking of the new Barclays Center at the Atlantic Yards development. The 18,000-seat arena, which will serve as the home of the soon-to-be Brooklyn Nets, is expected to open in 2010. At the ceremony, Mayor Michael Bloomberg described the Barclays Center as “the first piece of what will be one of the largest private investments and job generators in Brooklyn’s history.” Brooklyn Borough President Marty Markowitz and Governor David Paterson were equally effusive in their praise, describing the development as “a dream” and “a boon to Brooklyn,” respectively. The arena, which is being designed by the Ellerbe Becket and ShoP Architects firms, is also expected to host upwards of 200 events annually, including concerts and non-NBA basketball games. Clarification: these comments were released in advance of the ceremony and were the planned statements of the individuals quoted. TRD

David Childs and the planned Barclays Center at Atlantic Yards

While Frank Gehry is long gone from the Atlantic Yards development, developer Bruce Ratner may be bringing another architecture heavyweight to the project, according to the Brooklyn Paper. Starchitect David Childs, who served as head designer on the Freedom Tower for the World Trade Center site, has met with Ratner to review Barclays Center plans and to discuss the possibility of designing one of the compound’s planned residential structures. “Bruce wants to bring in different architects, good architects, to do each of the residential buildings,” Childs said. “That’s something I’d be very excited about. Talking to Bruce, it’s clear that he wants to do this right.” Groundbreaking on the Barclays Center is set for tomorrow.
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