May 18, 2009: The Nets are still planning events for their New Jersey Izod Center arena, but seem thismuch closer to realizing their move to Brooklyn, N.Y., according to team majority owner Bruce Ratner. In a unanimous decision late last week, the New York state Supreme Court's appellate division upheld a lower-court ruling that rejected a challenge to the state's use of eminent domain to obtain properties. The appeals court had struck down a lawsuit by opponents of the Project seeking to block the state from using eminent domain powers to seize the Atlantic Yards 22-acre development property in Brooklyn on which Forest City Enterprises plans to build Barclays Center, a 20,000-seat arena, for the Nets, concerts and other events. Ratner, chairman and CEO of Forest City Ratner, said in a statement that the company intends to break ground on the project this year "with the goal of having the Nets play basketball in the new Barclays Center arena in the 2011-2012 season." The company also expects to start at least one residential building during the first phase of construction. "We're thrilled with this decision, which is the 23rd in a row in favor of the development," Ratner said in a statement. "The world has changed significantly since we announced this project in December, 2003. But one thing has never changed - Forest City's commitment to bringing the Nets to Brooklyn and to building an arena and residential community that will bring jobs, affordable housing, entertainment and the excitement of major-league sports to the people of Brooklyn and the entire city of New York." In addition to Barclays, which has the exclusive naming rights for the arena, eight other companies have signed on as sponsors, according to the company. Back to Home Page
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