« Ratner Meets With Burden | Main | Ratner and the Gentry »
September 7, 2006
THE 6%-8% SOLUTION?
Slatin Report
By Steve Garmhausen
The real estate-insider web site talks to industry folks off the record about Bruce Ratner's Atlantic Yards proposal. Most of the "Deep Throats" believe that Bruce Ratner's Atlantic Yards project will get built, though the programming of the project will change in the ensuing years.
One development consultant argued that the project is so big and intricate, and requires so much investment and cooperation between public and private forces, that some link in the chain is bound to snap. "There are a million reasons why it would change," he said. "I think it’s just too big to come out in 2016 the way it’s envisioned in 2006."
...
Another city official opined that Ratner was likely to get most of what he wants, saying that the developer had "played it too well."That source, who can hardly be called a foe of development, said that Ratner's thousands of units of housing will rob other residential developers of business while straining area resources from schools to hospitals to parking. "It will be built pretty much as it's seen now," he predicted with a resigned tone.
Posted by lumi at September 7, 2006 12:20 AM