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Nets' Brooklyn Arena Approved

New York State approved plans for Bruce Ratner's new Nets arena--and the rest of the Atlantic Yards development--Wednesday, the final step in what was a nearly three-year-long trek. The overall project, valued at $4.2 billion, would be the largest ever in Brooklyn. Assembly Speaker Sheldon Silver received several concessions from Ratner, including a reduction in the height of the tallest skyscraper and more affordable and low-income housing. The Nets could be in the $550 million arena by the start of the 2009-10 season. Groundbreaking is expected early next year.