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July 8, 2007
News Highlights of the Week: June 30 – July 6, 2007
Architectural Record
Although it’s perhaps a statement of the obvious, Frank Gehry’s services don’t come cheap. The starchitect commands more than $12 per-square-foot, three-times the industry average, for his work on the Atlantic Yards project in Brooklyn, according to a July 1 article in The New York Times. This pricey figure, and others, was contained in documents released as a result of a lawsuit against the developer, Forest City Ratner. Critics of the controversial project contend the financial records indicate that the massive mixed-use complex is far riskier than first believed. “The affordable housing is the weakest link in a project that is otherwise financially very tight,” said state assemblyman James Brennan. “This is disturbing, because the affordable housing was marketed as the main public benefit of the project.”
Posted by amy at July 8, 2007 10:33 AM