- A $4 billion redevelopment project that could reshape Brooklyn with an NBA basketball arena, office towers and thousands of apartments was approved Wednesday after months of maneuvering among New York state's top political leaders.
The state Public Authorities Control Board voted unanimously to authorize the Atlantic Yards development, a sprawling reuse of a downtown Brooklyn railyard that would include a new home for the New Jersey Nets.
The state would pay $100 million and New York City would pay $100 million toward the project.
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