On the contrary, it looks like it is just starting to ratchet up again.
And rightfully so. The arena was just the centerpiece of the massive development of Atlantic Yards. The project was also supposed to be about affordable housing and creating thousands of construction and full-time jobs.
If none of those things come to fruition as proposed, then the public was sold a false bill of goods when so many of the regulations surrounding the issues of land use and development in this city were severely loosened for Forest City Ratner to proceed.
It’s obviously too late to stop the project, but if the rest of the site isn’t developed as promised than let it be a cautionary tale about future large developments in the city, where developers promise public benefits in return for things like using eminent domain to seize private land and long-term tax breaks.
For instance, like in Willets Point, where the city has floated all sorts of large-scale development proposals that promise to revitalize the area and bring economic growth to the area.
If a project like Atlantic Yards, which generated so much attention and oversight can’t deliver on its promises, then why should we reasonably expect that any developer can deliver on the promises they make?
The future of Atlantic Yards is just now beginning. What happens at the site over the next decade will really determine whether the project was a success or failure, and will be the example people point to when it comes to large-scale development projects in New York City for years and years to come.