Published reports Wednesday indicate that the New Jersey Nets' planned move to Brooklyn could be dead.

Frank Gehry, the well-known architect who was hired by developer Bruce Ratner to build an arena in Brooklyn, is being quoted as saying the development is "not going to happen." The story appeared in the New York Daily News and New York Post.

The $4.2 billion Atlantic Yards development - which includes the arena, office towers and thousands of apartments near downtown Brooklyn - has been stalled since the economic crisis dried up financing. Gehry's Los Angeles-based design firm has also been hurt by the slumping economy and recently laid off the two dozen employees who were assigned to the Atlantic Yards project.

In response to Gehry's comments, Ratner released a statement Wednesday reiterating his commitment to the project.

"We've prevailed in 22 judicial decisions and are ready to proceed even at a time when other projects and industries have faltered," Ratner said in the statement. "Atlantic Yards will get built."