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Gothamist: Appeals Court Clears Way For Atlantic Yards in Brooklyn

Source: gothamist.com

Added by: bridgetl  2 years ago

Description: The NY State Court of Appeals, the highest in the state, dismissed a lawsuit challenging the use of eminent domain for developer Bruce Ratner's Atlantic Yards project. The NY Times calls the lawsuit the "last major obstacle" for Ratner, "whose 22-acre development has been delayed for three years by a flurry of lawsuits, the collapse of the credit and real estate markets and a glut of luxury housing, plans to begin selling tax-free bonds next month to finance the development’s cornerstone project: an 18,000-seat basketball arena for the New Jersey Nets at the intersection of Flatbush and Atlantic Avenues near downtown." Read more: http://gothamist.com/2009/11/24/appeals_court_clears_way_for_atlant.php