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July 7, 2005

Surprise competing bid for the MTA railyards

extel.jpgNew Yorkers woke up to news of a competing to build on the MTA's Vanderbuilt ("Atlantic") Railyard property.

The Extell plan proposes 1,940 residential units and 116,000 square feet of retail space in 11 buildings that would not be higher than 28 stories and 167,137 square feet of parks and open spacw.

Key features that differentiate the Extell bid from Ratner's controversial Gehry desiged plan are: * NO use of eminent domain, * No superblocks (project footprint limited to the railyard property), * No arena, * No skyscrapers, * Proposal will be submitted to local review process (ULURP), * Widespread community-based support, * Support of elected representatives from Prospect Heights, * Only 30% affordable housing planned.

The MTA has not commented on details of either plan, including how much each company has bid.

The Daily News reports that:

The bids could be voted on as early as the next MTA board meeting on July 27, said agency spokesman Tom Kelly.

Neither developer disclosed how much they bid for the 8.4-acre stretch of railyard along Atlantic Ave.

Ratner already has spent $100 million on architects and buying land.

HEADLINES:
NY Daily News, Rival for Bruce in B'klyn battle
The NY Times, Brooklyn Plan Draws a Rival, and It's Smaller
NY1, Surprise Competing Bid Entered for Brooklyn Rail Yards dialup/broadband
NY Newsday, Surprise competitor for Ratner's proposed Nets site
AP (San Jose Mecury News), Brooklyn developer faces new competition
NY Sun, RATNER, EXTELL SUBMIT BIDS TO MTA FOR ATLANTIC YARDS
Metro NY, Nets face competing bid from developer
GothamGazette.com, Bid for Brooklyn Railyards
The Newark Star-Ledger, Firm makes rival bid for proposed arena site

Posted by lumi at July 7, 2005 6:55 AM