Aerial photo by Jonathan Barkey
From the NY Post:
Brooklyn's Atlantic Yards project is in such financial upheaval that the developer is now trying to cut back on much-needed transit improvements, which he promised in exchange for approval for the controversial $4 billion project, The Post has learned.
Sources said Bruce Ratner is in talks with the cash-strapped Metropolitan Transportation Authority about cutting costs on a revamp and move of the Long Island Rail Road's Vanderbilt Rail Yard, which he agreed to purchase three years ago for $100 million.
The news has Atlantic Yards opponents seething because Ratner wasn't the highest bidder for the 8.3-acre rail yard site, but the MTA agreed to sell it to the developer anyway, allowing him to move forward with his now crumbling 22-acre plan to build an NBA arena and 16 office and residential towers in Prospect Heights.