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Atlantic Yards in Brooklyn

Brooklyn, NY - Protesters are expected to turn out in downtown Brooklyn today as construction on the controversial Atlantic Yards project is set to begin after years of delays and court challenges.

Gov. David Paterson, Mayor Michael Bloomberg and rapper Jay-Z will join developer Bruce Ratner at the groundbreaking ceremony.

Earlier this week, streets in the already-clogged area between Flatbush and Atlantic Avenues began closing to clear the way for construction on the $4.9 million project which has been stalled by court challenges, the recession and numerous changes to the original plan—including the loss of star architect Frank Gehry.

Last week, a judge cleared another big hurdle for Ratner—the transfer of private land for use in the project.

But community leaders and property owners on the planned site, including Daniel Goldstein, a spokesman for Develop Don’t Destroy Brooklyn, said they plan to continue to challenge the project in court. “I am angry with our so-called political leaders who proudly stand by their abuse of power,” Goldstein said after the March 1 court ruling.

Develop Don’t Destroy Brooklyn is planning to protest at today’s groundbreaking.

Even still, Ratner is pushing ahead, sending beloved local bar Freddy’s a notice it must vacate by the end of the month.  Renderings were released this week detailing the interior of the cornerstone of the project, the 18,000 seat Barclays arena that will someday house the Nets.

A spokesperson for Forest City said it plans to open the arena “at some point” in 2012. The first phase of construction at the 22-acre site will include three residential buildings. Design work for the first of those towers is expected to start later this year but an architect has not yet been chosen.

New York Magazine  today called the project a loser for both New Yorkers and for Ratner.   Ratner has said he’ll start work on the residential and commercial buildings in 2011, but renegotiations have extended his deadline for finishing the non-arena construction into 2035, the magazine said.

Last September, the Independent Budget Office says the public tab will be approximately $675 million on the project — and that’s just for that big arena. The IBO estimates it will lose $219 million for the city and state over 30 years.  The city is also incentivizing the project with $169 million in discretionary subsidy.

Shortly after the report, Bloomberg hailed the project as a project that moves the city forward.  “I don’t know what the IBO studies would have shown back when they tried to establish the value of Central Park or Prospect Park or anything else,” he said.

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