Ratner says Atlantic Yards could be delayed by years

TRD New York /
Mar.March 21, 2008 08:35 AM

The slowing economy could delay Brooklyn’s Atlantic Yards mega-project by several years, developer Bruce Ratner says. The Miss Brooklyn office tower, originally scheduled to be completed in July 2009, has yet to secure an anchor tenant, and Ratner has resorted to sending a letter written by architect Frank Gehry to CEOs, inviting them to become part of the project’s “centerpiece.” Ratner said he remains confident in the Brooklyn office market, but said the office tower won’t be built until an anchor tenant is found. Ratner also said “the bond market may slow the pace of the residential buildings.” Atlantic Yards has already been delayed by several lawsuits, and two remain on appeal. Some critics worry that more delays will lead Ratner to demand more public subsidies, reduce the amount of affordable housing included or even sell parcels to other developers who could use less expensive designs. Ratner says the 18,000-seat Nets basketball arena will be built on schedule.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
CoStar CEO Andy Florance (iStock; Getty)

CoStar plots international push with Emporis buy

CoStar plots international push with Emporis buy
Colliers’ Jay Hennick (iStock; Colliers)

Colliers’ profit rebounds

Colliers’ profit rebounds
40 East 72nd Street and Spiros and Antonia Milonas  (Getty; Google Maps)

Under water: Shipping magnate’s troubled UES condo is bankrupt

Under water: Shipping magnate’s troubled UES condo is bankrupt
Photo-illustration of Iron Hound Management’s Robert Verrone (Headshot by Studio Scrivo)

Here are the most active players in the loan workouts space

Here are the most active players in the loan workouts space
Jake Fingert, Casey Berman and Jeff Berman (Camber Creek)

Camber Creek closes $155M fund

Camber Creek closes $155M fund
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...