6/25/2009

The New York Metropolitan Transportation Authority has approved an amended deal with Forest City Ratner, developer of Brooklyn Yards, which will house a new arena for the New Jersey Nets basketball team. The transit agency agreed to an upfront payment of $20 million rather than $100 million and gave the developer 20 years to complete the project that will include 16 buildings. Work on the arena is to begin this year.

Full Story:
Forbes

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