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April 4, 2006
Ratner's "Downsizing" Could Upsize Office Space
The Real Estate Observer
Matthew Schuerman points out that according to the Final Scoping document for Atlantic Yards, Ratner is hedging his bets on the ratio of commercial to residential space...
A chart included in the document (page 5), which sets out the scale of the project to be studied in the next step of the approval process, shows that variation A would have 6,860 condos and rentals and 606,000 square feet of offices. Variation B would have 5,790 apartments and 1.8 million square feet of offices. And even though the Ratner press release acts as if there is only one proposal on the table and that proposal has the same specs as Variation A, the scoping document treats both variations as equals.
...wondering if "Variation B" will maintain the same amount of "affordable housing" units.
The press release states that Ratner will keep the same number of affordable apartments (2,250) even though the project shrank by 5 percent since the fall. How many affordable apartments will there be if he goes with Variation B and builds only 5,790 apartments total?
Posted by lumi at April 4, 2006 8:55 AM