August 20, 2006
Railyard platforms on W. Side and Sunnyside get critical look, but Brooklyn?
Atlantic Yards Report looks at yesterday's article in the New York Times where Spitzer makes demands about railyards. Just not the Vanderbilt ones.
Eighteen months after Forest City Ratner's Atlantic Yards project was announced as a fait accompli, the MTA put the railyard out to bid; even though a rival bidder, Extell, offered $150 million to FCR's $50 million, the MTA chose to negotiate solely with FCR, which raised its bid to $100 million, well under the $214 million appraisal.
The developer argues that the contribution toward a new platform should be added to the value of the bid, but there's been no engineering study, as Spitzer demands for the West Side Yards.
Posted by amy at August 20, 2006 8:05 PM