With the city's Olympic 2012 dreams dashed, all eyes are now on Brooklyn, where developer Gary Barnett has submitted a competing bid for the MTA's Atlantic Avenue rail yards, the site that developer Bruce Ratner of Forest City Ratner wants for his New Jersey Nets arena, retail, residential, and office complex.
According to Crain's New York Business, Barnett's $1 billion bid is smaller in scale, proposing 11 residential towers and no arena, and would be contained within the boundaries of the rail yards. In contrast, Ratner's $3.5 billion, Frank Gehry-designed complex has met opposition from the surrounding Fort Greene and Prospect Heights residents and businesses, whose property is threatened by Ratner's project, which extends beyond the rail yards. The MTA will choose the winning bid on July 27.
Posted 07.20.05
According to Crain's New York Business, Barnett's $1 billion bid is smaller in scale, proposing 11 residential towers and no arena, and would be contained within the boundaries of the rail yards. In contrast, Ratner's $3.5 billion, Frank Gehry-designed complex has met opposition from the surrounding Fort Greene and Prospect Heights residents and businesses, whose property is threatened by Ratner's project, which extends beyond the rail yards. The MTA will choose the winning bid on July 27.
Posted 07.20.05
