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June 7, 2006
Deadline on Ridge Hill Yonkers needs to move forward on removing obstacles.
The Journal News
Editorial
Forest City Ratner has threatened to pull out of the Ridge Hill deal in Yonkers if a deal isn't struck by June 15.
Ratner has another battle on his hands in Brooklyn, where his proposed Atlantic Yards project — from skyscrapers to a New Jersey Nets arena — is under fire. It's not difficult to figure out which project would get dumped if two fronts became too many to carry. It certainly wouldn't be the one in the company's home borough.
Should Yonkers lose Ridge Hill, it would surely bring second thoughts to the developers of a proposed $3.1 billion major downtown rehabilitation and others interested in Yonkers' development. In addition to losing the jobs, consumer benefits and a broadened tax base, Yonkers would also lose the 13.5 percent of the 1,000 residential units that Ridge Hill would provide to put an effective end to the 26-year-old federal housing discrimination case.
NoLandGrab: The developers for the Yonker's downtown rehabilitation plan are already taking cues from Ratner's difficulties in Ridge Hill by making a big show of meeting with and listenting to the community.
Posted by lumi at June 7, 2006 7:50 AM