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August 23, 2007

Flashback, 1999: Developers, said FCR, must be "more creative" in finding sites

Rataki.jpgAtlantic Yards Report uncovers more of the Atlantic Yards back story.

Once Brooklyn ran out of large parcels of land for mega-developers like Bruce Ratner, real estate values went up and it became economically feasible to build a platform for development over the railyards — guess who got there first.

An article in the January 1999 issue of the late Brooklyn Bridge magazine, headlined "King of the Deal," suggested that Forest City Ratner was not only not yet imagining Atlantic Yards, it had run out of land in Brooklyn.

Given other evidence that the developer already had its eye on the Metropolitan Transportation Authority's Vanderbilt Yard, it's safe to consider that a feint for public consumption.

The article begins:

Sandeep Mathrani used to fly over Brooklyn in a helicopter, videotaping traffic patterns and housing concentrations. As director of retail development for Forest City Ratner, he was searching for large spaces within residential neighborhoods on which to build new shopping complexes. "It's hard to drive and get a bird's-eye per­spective," says Mathrani.

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Posted by lumi at August 23, 2007 11:00 AM