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December 31, 2007
The Top New York City Stories of 2007
Gothamist
Atlantic Yards gets a mention near the end of this review of 2007:
One Word, Benjamin: Development
The real estate market may have cooled down in the rest of the country, but residential and commercial real estate in New York City - especially Manhattan and parts of Brooklyn - led to a flurry of proposals from developers and investors. The city also got involved at times, as it outlined ideas for the city's growth. Some properties include: The blocked-sale of Starrett City, the city's plans to revitalize Willets Point, approval of Columbia's Manhattanville expansion, the Domino Sugar Factory's landmarking, "condo-hotels" in Soho to skirt zoning, government incentives luring businesses to build downtown, a $225,000 parking space, and the West Side rail yard proposals.
The issues of landmarking and eminent domain also came into play in neighborhoods like Sunnyside Gardens and with projects like the Atlantic Yards Arena. Columbia students even took up a hunger strike to protest the school's development plans. But with the sub-prime mortgage crisis growing, some formerly up-and-coming neighborhoods on the downswing, and some hot neighborhoods losing their luster, will the bubble be bursting soon?
Posted by steve at December 31, 2007 6:21 AM