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April 13, 2012

Atlantic Yards Development Delayed


Due to the completion date deadline of the Atlantic Yards Development being pushed back to 2035 instead of 2016 a New York court rule a new environmental study is needed for phase 2 the project (Meaning it does not effect the first three towers planned to be built around the arena) .  This new environmental study will further delay the start of the project and adds a new hurdle.  What does this mean for the Islanders?  Well it has been believed that Wang might be interested in part of the Atlantic Yards Development as part of the deal with the Barclays Center.  This news may make him question that option and make Brooklyn a little less attractive.  However, if he decides to move to the Barclays Center he may make a deal that allows him to invest if the project is ever started.  Prokhorov made a similar deal to the one I suggested when he bought the Nets.  The deal gave Prokhorov a 20% option in the project.
http://online.wsj.com/article/AP56c68b5a82ba465bb52a6ee2091b3b8e.html

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