After six years, three arena designs, two arena architects, a scaling back, a new development partnership and many protests, it appears the 22-acre Atlantic Yards megadevelopment over rail yards in Brooklyn, N.Y., is moving ahead. Developer Forest City Ratner Cos. says all the parties involved, including the Empire State Development Corp., have executed “all necessary documents and officially closed on the project.” Ratner also has announced the formation of a new partnership to develop the mixed-use project. The partnership deal, which calls for the sale by Ratner of 80% of basketball’s Nets to Onexim Sports and Entertainment Holdings, also includes
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.