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July 10, 2006
Hudson Yards back in play
NewYorkGames.org links the local coverage of Attorney General and gubernatorial candidate Eliot Spitzer's pronouncement that NYC's offer for the Hudson Yards is "grossy under market value" and concludes:
As predicted, they're trying to end-run the next governor, and he knows it.
It'll be interesting to see what guarantees West Side electeds have that the administration will propose a community-friendly plan. With the city planning a subway stop at this site, the proposed density is likely to be significant (arguably, appropriately so). It would be much cheaper to zone it to control development.
NoLandGrab: The call for "community-friendly" development grows louder as politicians and developers are seen as not having the community's best interests in mind.
OnNYTurf examines Assemblymember Richard Brodsky's stance on NYC's offer to puchase the development rights over the Hudson Railyards and wonders if Brodsky feels the same about Brooklyn's Vanderbilt Yards and Bruce Ratner's Atlantic Yards proposal.
Dan Goldstein explains that the Public Authorities Reform Bill also applies to Atlantic Yards:
"The Public Authorities Reform Bill also raises serious questions about the legality of the below market sale of the Vanderbilt Rail Yards to Forest City Ratner–legal questions which are litigable. The FCR/MTA agreement for the yards has not closed and will not unless Ratner's proposal is approved. The Reform Bill applies to all land deals that haven't closed."
Today's NY Sun editorial outlines a market driven approach for development over the Hudson Railyards.
Posted by lumi at July 10, 2006 6:53 AM