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New York

ESDC approves Atlantic Yards

The Empire State Development Corporation has approved developer Forest City Ratner’s Atlantic Yards project in Brooklyn.

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The ESDC today affirmed the general project plan and authorized the use of eminent domain to clear the way for the $4-billion mixed-use development, which includes thousands of housing units, commercial space and a new sports arena that will be home to the Brooklyn Nets, the professional basketball team owned by Forest City Ratner president and CEO Bruce Ratner. more By Tim Moran