As construction at the Atlantic Yards picks up pace, pedestrians on Flatbush Avenue find themselves walking into oncoming traffic. What was a horrific traffic situation has become even worse, as one lane has been eliminated to make way for pedestrians.
It is unclear how long the lane on Flatbush Avenue between Dean Street and Atlantic Avenue will be closed. The closure was originally referred to as “temporary.”
Later, the Final Environmental Impact Statement stated that it “would occur over perhaps a year.”
Then, the Empire State Development Corporation said, “Through early 2012.”
Forest City Ratner stated only few weeks later, “Until the new Barclays Center Arena opens.”
The arena was originally supposed to open in 2006, then fall 2009, then 2010, then 2011, then the 2011-12 season, and now the 2012-13 season.
Seems to be a running theme with the Barclays Center Arena. First, the project was supposed to net $6 billion in tax revenue, then $5.6 billion, then $4.4 billion, then $1.2 billion. Finally, as estimated by the New York City Independent Budget Office, the project will be a net loss to the city of $40 million with an additional $181 million loss in opportunity costs through the year 2039 due to the “below market rate sale of land.” But in good news, the report stated that, “for the developer, Forest City Ratner Companies, the mix of special government benefits result in total savings of $726 million.” I suppose that just goes on the city, state and federal credit card. How’s that looking these days?
Norman Oder, Atlantic Yards Report
New York City Independent Budget Office, The Proposed Arena at Atlantic Yards: An Analysis of City Fiscal Gains and Losses
Empire State Development