Tough Year for Atlantic Yards Developer

  ATLANTIC YARDS  
  BROOKLYN COMMUNITY DISTRICT 02     BROOKLYN COMMUNITY DISTRICT 06  
  BROOKLYN COMMUNITY DISTRICT 08  
November 21, 2008

The stock of Forest City Enterprises (FCE), the parent company of the Atlantic Yards developer, keeps falling and is down 93% for the year. FCE has scrapped a 1000-acre project in central Ohio due to the poor economy and infrastructure issues. It is unclear what this means for the Atlantic Yards project. It is likely the developer will try to hold onto Atlantic Yards, which has already gained government approval.