Miller backs Ratner’s arena

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Developer Bruce Ratner won the key backing of City Council Speaker and mayoral candidate Gifford Miller on Friday for his proposed New Jersey Nets arena in Prospect Heights. The arena, now estimated at $3.5 billion, would also include high-rise office towers and up to 7,300 apartments. Interestingly, Miller opposes the West Side stadium, but sees Ratner’s arena as a boon to a struggling outer-borough area and one that would require “only” $200 million in public funds, while the West Side stadium could command up to $300 million.more [Daily News]