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March 28, 2005
LAWMAKERS WANT MTA TO REJECT RAIL YARD OFFERS
Weiner: It’s Like ‘Peeling an Onion’
The NY Sun
With only four days remaining until the Metropolitan Transportation Authority picks a developer to transform the Hudson rail yards on Manhattan’s West Side, a chorus of elected officials is calling for the agency to put the brakes on making a final decision.
...the New York Post reported that Newmark & Company, a real-estate firm that is acting as a consultant for the MTA on this project, has been urging the MTA to reject the existing bids because it could get $300 million more than what the Jets and Cablevision have offered (See, "'LOW' BLOW TO BIDS," NY Post, March 27, 2005). The dollar-per-square-foot value of the development rights is being vastly undervalued, a source told the paper.
NoLandGrab: Many of the same lawmakers who are calling for a "do over" in the Hudson Yards bidding process have remained silent on the Atlantic Yards deal. Read this article so that these politicians can be held to account for their positions.
Posted by lumi at March 28, 2005 11:39 PM