Atlantic Yards project on last leg?

The struggling economy could mean big changes for the proposed Nets basketball arena in Prospect Heights, Brooklyn.

According to published reports, Atlantic Yards developer Bruce Ratner of Forest City Ratner Developments is looking to scale back the $1 billion arena to make it less expensive to build.

Developer Reportedly Looking to Scale Back Nets Arena

Trimming Frank Gehry's design for the Nets arena at Brooklyn's Atlantic Yards will help ensure it gets built, boosters said Friday- but critics say the scaleback is the plan's death knell.

"The project is definitely on its last legs, and the wicked witch is almost dead," Councilwoman Letitia James (WFP-Fort Greene) said after the Daily News reported that developer Bruce Ratner wants to hire "value engineering" firms to trim millions from Gehry's plans.

Sources told The News that Ratner needs to trim the arena's $1 billion cost to get financing for the project, and hopes to remove architectural flourishes or substitute cheaper materials to get it built.

Atlantic Yards lite is on 'last legs' - foes