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Atlantic Yards — The Promises and the Reality

Here comes another dispatch from Norman Oder, an experienced watcher of the ups and downs — mostly downs — of the Brooklyn Atlantic Yards redevelopment project. This time he writes for Reuters.com, and his article, Brooklyn’s Vaunted, Tainted Barclays Center, December 14, 2012. Check it out. http://blogs.reuters.com/great-debate/2012/12/14/brooklyns-vaunted-tainted-barclays-center/

The botom line is that the city has lavished accommodations on the redeveloper, and the timeline for completion of the project has grown from 10 to 25 years. But all there is so far, is the Barclays basketball arena. Your tax money at work.

An odd afterthought. We doubt that there is any connection between the two, but today’s New York Times (Dec. 14, 2012, at p. B10) reports that Barclays Bank bonds (7.625s of ’22) are selling just below par (99.5) with a current yield of 7.697, which doesn’t sound very good given prevailing interest rates.


The purpose of this blog is to provide a forum for people, whether eminent domain professionals or not, for exchange of ideas and a discussion of eminent domain news and issues. It does not provide legal advice. Questions concerning actual cases should be directed to the readers' own legal, appraisal and real estate advisers.

We reserve the right to delete comments that in our judgment are abusive or otherwise inappropriate, or that digress from the topics that are the subject of this blog.