« Ratner To Beat Spitzer To The Finish Line | Main | AY myth 2: the cutbacks weren't in the cards »
November 15, 2006
AY office jobs: from 10,000 to... 375
Atlantic Yards Report
Norman Oder does the math on the new jobs figures for Atlantic Yards "Office Lite" (emphasis added):
Divide 336,000 square feet by 250 square feet per job, and that means space for 1344 jobs, or, as rounded off in the FEIS, 1340 jobs.
But that's likely overstated as well. The New York City Economic Development Corporation (NYCEDC), in an analysis of an earlier configuration, calculated a 7 percent vacancy rate, which would mean 1250 jobs.
NYCEDC also suggested that only 30 percent of the jobs would be new to New York, rather than moved from Manhattan. That would mean only 375 new office jobs at Atlantic Yards. So much for the 10,000 jobs some columnists eagerly embraced.
Posted by lumi at November 15, 2006 6:55 PM