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July 21, 2006

Mystery solved: ESDC should never have promoted 10,000 jobs at Atlantic Yards

Atlantic Yards Report uncovers the mystery behind the original inflated jobs figure touted by Atlantic Yards developer Bruce Ratner and the Empire State Development Corporation (ESDC).

inflated jobs figuresThe industry standard for estimating the number of square feet of office space per job is 250, while the original 10,000-jobs figure released by Ratner and the ESDC was calculated using 200 squ. ft./job.

Atlantic Yards Report-er, Norman Oder, has been trying to get to the bottom of why the ESDC would depart from industry standards. Now that the Draft Environmental Impact Statement has been released, it appears that the ESDC actually DOES use the industry standard.

New mystery: why did the state agency go along with the developer's original claims?

Norman Oder give the ESDC the benefit of the doubt here:

Yes, it's likely that the press release--versions were issued jointly by the city, state, and ESDC--wasn't written by the ESDC. But it apparently didn't represent the way the agency calculates office jobs.

The ESDC and developers have a "collaborative" relationship in an effort to move projects forward. The Atlantic Yards job numbers, however, suggest that the interests--or at least the statistics--may not always be in tandem.

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Posted by lumi at July 21, 2006 9:32 AM