"Gold Rush" Begins Near Barclays Center

Owners of buildings nearby Barclays Center are shuttering businesses and offering properties for sale, the start of a long-anticipated boom near the billion dollar arena. Two buildings across from entrances to the arena, one a tile and linoleum store used for Nets signage, the other a workmens' uniform shop, are already up for sale with others to come.

The tile store will become a six-story apartment building with retail shops while the uniform shop is likely to be torn down and replaced with a McDonalds, one of several new eateries nearby. In one direction on Atlantic Avenue, investors have bought a small parcel they say they want to turn into a retail center, while in the other direction, two blocks closer to the city, plans were announced this week for a 50-story apartment tower. The underlying property cost the developers $30 million.