The New York Times is reporting that the controversial Atlantic Yards project in Brooklyn could be delayed for years because of the country's economic downturn.

Developer Bruce Ratner tells the paper construction won't begin on the office tower known as Miss Brooklyn until he can find an anchor tenant.

It was originally scheduled to open in July of next year.

Ratner says he plans to phase in the project's three residential buildings slowly. He says the delays will not affect the centerpiece of the project, the $950 million Nets' new basketball arena.

Ratner says he hopes to begin construction on that by the end of the year.

"Forest City Ratner remains committed to Atlantic Yards in its entirety and our investment in Brooklyn and the City is a long-term one," said Ratner in a statement today. "Today's business environment will not determine the final face of this project or deny the borough and the city its many benefits, including the thousands of units of affordable housing."

The Atlantic Yards project has been the subject of numerous lawsuits from community groups opposed to the project and the possibility of the use of eminent domain to obtain land around the site.

"It's no news to us that the Atlantic Yards project, which has always been financially not a viable project, is now suffering even more because of what's going on with the economy, " said Daniel Goldstein of the community coalition Develop Don’t Destroy Brooklyn. "Now what we're faced with is a project that no one ever asked for, no one ever bargained for, which would be an arena, and maybe a tower around it, and a bunch of demolition sites or vacant lots."

The Nets arena is scheduled to open in 2010.