The developer of the proposed new arena at the planned Atlantic Yards project in Brooklyn, Forest City Ratner, released yesterday new renderings by SHoP Architects which it had recently named to assist Ellerbe Becket Architects in designing a replacement for Frank O. Gehry's widely praised plan for a new home for the New Jersey Nets basketball team.

The new design is rust-colored and conjures a very low English men's hat worn at some horse races and golf courses. The new plan employs perforated weathered steel.

An article by Charles V. Bagli in today's edition of The New York Times said that "the state is expected to give the arena final approval on Sept. 17" and that "three weeks later, Forest City plans to begin marketing and selling about $700 million in tax-exempt bonds for the project."

"At the same time," the article continued, "the company will be marketing 100 luxury suites and premium seats. It hopes to get control of the land and begin construction in November."

To qualify for tax-exempt bond status, Forest City must start construction by the end of the year and on October 14, the Court of Appeals will hear arguments challenging the state's use of eminent domain for the project.

The controversial project also calls for the creation of as many as 6,400 apartments but Joshua Kahr, a real estate consultant for the Council of Brooklyn Neighborhoods, which opposes the project, was quoted in Mr. Bagli's article as stated that Forest City's recently renegotiated agreement with the Metropolitan Transportation Authority permits it to "drop the second phase of the development, which involves the bulk of residential construction." The article quoted Bruce C. Ratner, chief executive officer of Forest City Ratner, as dismissing the criticisms and stating that "he planned to begin the first residential tower six to nine months after starting the arena."

An article by Sewell Chan in today's City Blog of The New York Times said that the proposed arena "would result in a net loss to the city of nearly $40 million over 30 years, according to a new report prepared by the city's Independent Budget Office," but also result in a net gain to the state of $25 million.

David Lombino, a spokesman for the city's Economic Development Corporation, was quoted in Mr. Chan's article as stating that "The report is sloppy and contains numerous inaccuracies."

In a review of the new arena design in today's edition of The New York Times, Nicholas Ouroussoff said it "falls short of the high architectural standards set by the [Gehry design the city was originally promised," adding that "too many questions remain unanswered about the overall plan." He described the Gehry design was "a work of genuine urban complexity, drawing strength from the tensions created by the vibrant mix of elements," adding that the new design "tries to recapture some of that energy and relate the buildings to the neighborhoods around it." "The rust-colored skin...has the look of worn snakeskin; it is perforated with small openings that will make it glow at night, and it has a toughness that should fit well into its gritty setting."

In today's on-line edition of therealdeal.com, James Gardner was not overly enthusiastic and writes that "the copper-colored carapace of the building recalls the exoskeleton of a cockroach, while the attenuated front part, terminating at the intersection of Flatbush and Atlantic avenues, brings to mind the proboscis of a rhinoceros beetle."