Atlantic Yards breaking ground in December?
September 10, 2008 01:00PM
Bruce Ratner
Developer Bruce Ratner said he will break ground on the $4 billion Brooklyn Atlantic Yards project in December. Whether Ratner will be able to meet his deadline is uncertain, given the softening economy, credit crisis, rising costs and various lawsuits against the project. Financing for the plan is also dependent on the Treasury Department deciding whether Ratner is allowed to use tax-exempt bonds. The city and state have already agreed to provide $300 million in subsidies and tens of millions of dollars in tax breaks. Ratner recently asked for about $100 million in extra cash for the project. [NYT]
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Comments
Anonymous
That's more of a dream than reality. That project has so many loose ends, there is no way it will be ready by December.
Comment #1 Posted By: Anonymous 09/10/08