NEW YORK (CN) – The 2nd Circuit cleared the path for a $4 billion Atlantic Yards development in Brooklyn that calls for 16 high-rise apartments, several office towers and an 18,000-seat arena for the New York Nets.
The court rejected a lawsuit filed by tenants and property owners facing eviction on the 22 acres slated for development.
“For many property owners, monetary compensation may understandably seem an imperfect substitute for the hardships of dislocation and the loss of a home or business,” Judge Katzmann wrote.
“But federal judges may not intervene in such matters simply on the basis of our sympathies. Just as eminent domain has its costs, it has its benefits.”