NEW YORK (AP) -The developer planning a massive Brooklyn complex including a new arena for the New Jersey Nets has signed key documents letting the project proceed.
Wednesday’s closing marks an important legal step for the proposed $4.9 billion Atlantic Yards development, which also includes office towers and apartments.
Some nearby homeowners and tenants say they’ll keep fighting plans to force the sale of their homes for the project, though the state’s highest court has already approved it.
The arena is already under construction. Last week developer Forest City Ratner Cos. sold more than $500 million in bonds to finance it and completed a plan to sell 80 percent of the team and 45 percent of the arena to Russian billionaire Mikhail Prokhorov (mih-KILE’ PROK’-uh-rov).
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