Wednesday, October 15, 2008

Atlantic Yards a sinking ship? experts and state and city officials who have heard the developer's private pleas for more government aid say the failing economy has created a far bleaker picture for Atlantic Yards.

Ratner is heavily dependent on a pending federal decision that could determine whether tax-exempt bonds can be used to finance the $950-million arena. But even if the bonds become available, the seized-up credit market could make it impossible to attract investors to the arena, financial experts say.

Economy, Uncertain Financing Plague Brooklyn Arena

What also doesn't bode well for Ratner is that his architect quit.

1 comment:

Anonymous said...

Yea, it seems the ACRORN worm has some holes in ITS hull.

he he he