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June 25, 2006

Crain's editor Greg David gets it wrong: chronology, housing, density, and "status quo"

Atlantic Yards Report

Crain's New York Business editor Greg David, in a column dated 6/26/06 headlined Atlantic Yards is not about sports (subscribers only), repeats some Forest City Ratner talking points, forgets the eminent domain issue that he's previously addressed, and adds some other misreadings.
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As for the economics of the plan, why does David trust Ratner's claims, given that the developer has been unwilling to produce his economic projections for the project? Is Ratner's claim of $6 billion in revenue from the project credible? Are the subsidies and public costs deserved? And does David remember that, last December, he wrote, regarding eminent domain: What makes the issue so compelling in New York is that eminent domain is exercised here by undemocratic and politically motivated agencies like the Empire State Development Corp.

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Posted by amy at June 25, 2006 8:52 PM