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About DDDB
Our coalition consists of 21 community organizations and there are 51 community organizations formally aligned in opposition to the Ratner plan.

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"Why should people get to see plans? This isn't a public project."
Bruce Ratner in Crain's Nov. 8, 2009

Ratner Work Stoppage and Delay is Corporate Strategy. Whither Public Policy?

Last week, Forest City Ratner spokesman Joe DePlasco was quoted in the Daily News:
"As we said this fall we anticipate additional delays because of a pending court case," said spokesman Joe DePlasco, referring to an Appellate Division lawsuit challenging the use of eminent domain to acquire private land at the site.

"Over the last two years, we've prepared the site for the next steps. We've gone about as far as we can go at this point with preliminary work, including sewer, track, infrastructure and utility work, along with demolition," DePlasco added.
(Emphasis added)

That didn't wash.

DePlasco said that litigation is the reason Ratner stopped all work on the Atlantic Yards site. We asserted, correctly, that litigation is an obstacle to building the arena and the rest of the project, but is not an obstacle at all to Ratner continuing his work on building a new rail yard.

Well today, on parent company Forest City Enterprises third quarter analysts call, CEO Chuck Ratner said, "We've put all new development on hold until economic conditions improve meaningfully." He included Atlantic Yards in his run down.

So the rail yard work stoppage is due purely to corporate strategy, not litigation.

Though Chuck did come back to toe last week's line: "We stopped work because the work we were doing came to an end."

But this is a fib, as Norman Oder has proven (and here).

Other tidbits from the analyst call Q&A (which we suspect Norman Oder will give the definitive report):

> Ratner has a $40.5 million bridge loan with Gramercy $153 million bridge loan from Gramercy for some of the Atlantic Yards land coming due in February, 2009 and according to Chuck, they are trying to renegotiate it.

And this (transcribed by DDDB):

Analyst Q: How long can you delay that project and what is the extra cost of delay?

Chuck A: We continue to work with public parties, who are still fully committed; I think we can successfully delay until we are prepared to start. I can't tell you in this market when that can be. How long? I don't know. It's not a question of entitlements, it's a question of the market place.


As we've been saying for years, Ratner is speculating on our publicly owned land, privately owned properties faced with eminent domain, hundreds of millions in public subsidies, hundreds of millions more in undervalued land and tax breaks; and while speculating he tears down the neighborhood to create developer's blight.

It's time for some good public policy at the proposed development site, instead of corporate strategies.

Posted: 12.10.08
DDDB.net en español.
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Eminent Domain Case
Goldstein et al v. ESDC
[All case files]

November 24, 2009
Court of Appeals

[See ownership map]

EIS Lawsuit

DDDB et al v ESDC et al
Click for a summary of the lawsuit seeking to annul the review and approval the Atlantic Yards project.

Appeal briefs are here.

Appellate Divsion
Rules for ESDC
What would Atlantic Yards Look like?...
Photo Simulations
Before and After views from around the project footprint revealing the massive scale of the proposed luxury apartment and sports complex.

Click for
Screening Schedule
Isabel Hill's
"Atlantic Yards" documentary
Brooklyn Matters

Read a review
Atlantic Yards
would be
Click image to see why:

-No Land Grab.org

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-A Child Grows in Bklyn
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