Any day now, we expect a story about how the Atlantic Yards project has come across a new construction process that will allow everything to made from popsicle sticks and super glue, slashing the cost by 99.5 percent, with the remaining .5 percent coming from piggy banks stored at an undisclosed location on the outskirts of Cleveland. Ah, but we jest. The latest news, reported today by the Post, is "Brooklyn's Atlantic Yards project is in such financial upheaval that the developer is now trying to cut back on much-needed transit improvements, which he promised in exchange for approval for the controversial $4 billion project." Apparently, developer Bruce Ratner is talking to the (not exactly cash flush) MTA about finding a cheaper way to move the LIRR's Vanderbilt Rail Yard. The Yards were valued by the MTA at $214.5 million and Extell bid $150 million for them, but the MTA sold the 8.3 acre site to Mr. Ratner for $100 million. He is talking to the MTA about spreading out payments. Ratner had promised something like $345 million in "transit enhancements," including a $182 million replacement of the rail yards. It is untrue that Mr. Ratner suggested a "walking to Nassau County is good for you" ad campaign to MTA Chair Elliot Sander.
· Atlantic Yards Looks to $lash Transit Upgrade [NYP]
· Whatever Happened to Atlantic Yards? [WNYC]
· If FCR doesn't provide an upgraded rail yard would that stall the arena? [AYR]