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August 27, 2007
It came from the Blogosphere...
Curbed.com, Markowitz to Two Trees: Love Ya, But...
The Brooklyn Paper reports that Markowitz has come out against Two Trees' plan to build a six story annex on a neighboring parking lot, because the proposal is 10 feet too high for the existing zoning within the Cobble Hill Historic District. Said Markowitz (who has granted other exceptions on the site): "Should this intrusion be granted, it would set a precedent for other sites throughout the entire district to seek such an exception.” Of course, Markowitz's flip-flopping on such issues gives the Brooklyn Paper the perfect excuse to trot out a highly entertaining Marty Markowitz/Atlantic Yards op-ed that's sort of a greatest hits of complaints about the project. From off in the distance, a single "Oy vey!" is heard.
Stay Free Daily, History Is Coming Soon!
OK, this post has nothing to do with Atlantic Yards, but in real estate, truth is stranger than fiction.
Brownstoner, Tenants Fight Eviction on Bergen Street
B'stoner reports:
A Prospect Heights block party yesterday had homemade food, loud music and a louder message: “Good neighbors do not evict neighbors.” The Fifth Avenue Committee-organized event was aimed at drawing attention to the plight of four rent-stabilized tenants facing eviction from 533 Bergen Street, and it highlighted bubbling tensions over affordable housing, gentrification and Atlantic Yards.
onboardBlast, New York City Construction Boom
Given that there is currently a construction boom of large scale public and privately funded projects in the NYC metro area – stadium plans for the Yankees and Mets, the Atlantic Yards and Ground Zero – what will become of the Real Estate market in New York City with the recent national mortgage and lending scare?
From the national perspective, New York is in a bubble compared to the rest of the country’s Real Estate decline. However, if the current construction boom with funding focused from several public and private lenders is unable to complete even large scale projects in an effective and efficient time schedule – what additional effect will this have on the homeowners market?
All of the major public projects mentioned underway are finding that their original construction budget estimates have dramatically fallen short of the actual costs to build in New York today.
Posted by lumi at August 27, 2007 6:47 PM