Brooklyn Grand Opening of New Arena
Jay Z has been fulfilling the busy, all encompassing renaissance man image to an even greater degree the last few months as the rapper, father of one with wife Beyonce and the image setting promoter of the Brooklyn Nets mega-arena. The facility has been under construction since 2010 after nearly a decade of aggressive haggling between the project's advocates and dissenters. The idea to move the languishing New Jersey franchise, located about an hour train commute to the new site, came about as a prosperous utilization idea for the nine acres of idle, "Atlantic Yards", property situated at the nexus of metropolitan Brooklyn. The land belonged to the state and had partly undergone a less intensive redevelopment project in 2000 of the Atlantic Pacific shopping center that now sits alongside the arena. The project's creator is the seasoned Brooklyn developer Bruce Ratner, whose company Forest City Ratner bought the NBA franchise for $300 million. As plans were originally made for the construction, architect Frank Gherey was commissioned to create the drawings and the structure's design however with the financial constraints imposed by the economic downturn, a simpler rendition was devised by Ellerbe Becket and SHop Architects. All in, the construction price came to about one billion dollars, for which later was partly financed by Russian investor, Mikhail Prokhorov, who since 2009 holds 80% team ownership. The majority of financing was provided with city and state municipal bonds.
The major disagreement over the decision to build the project arose between local community members arguing about cost, the displacement of hundreds of residents through eminent domain and the surge of activity it would bring to the area. Cooperation was ultimately negotiated in 2005 however offering a green light to the project with guarantees for some affordable housing around the arena, job creation, and tax revenues. The planned construction of sixteen high rise condominiums with costs expected to exceed 6 billion dollars will presumably occupy the arena's periphery but a speculative completion date is set for 2035. Despite the long term project not slated to be finished any time soon, the main attraction Barclay's Center is opening it's doors on Friday September 28. To kick off the facility's inauguration Jay Z is performing eight sold out concerts in the 18,200 seat facility.
The influence that the Brooklyn born rapper has had for the project since 2003 with his one million dollar investment has multiplied the arena's appeal. His sponsorship encouraged some apprehensive local residents who questioned the public benefit of the project. Jay Z has been involved in management meetings with the major investors and league commissioner David Stern. He's helped with team jersey designs and many other facets of branding the team.
For concerts, it’ll serve as a hot spot to rival Madison Square Garden, where the home court for the New York Knicks and NY Rangers coexists as a venue for big ticket concerts including Madonna who recently scheduled sold out shows on November 12 and 13. In state of the art Barclay's arena, the New York Islanders will similarly make a home for themselves with a preseason game against rival New Jersey Devils on October 2. The events seem to hit the ground running with other upcoming performances from Barbara Streisand, Rush, Justin Beiber, the Who, and Bob Dylan this fall. Preseason Net's basketball begins October 15 and the regular season opener against the Knicks is on November 1.
For those lucky enough to get VIP access to any performance or sporting event, three premier club level sections adjoin posh lounges with a full amenity bar and the JayZ signature 40/40 Club provides a top notch restaurant and viewing room.
Click to Play Youtube Interview with attractive Sportscaster and the Team's Primary Owner.
An Original Article on a recent Victoria Secret Fashion Show and JayZ's performance!