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February 5, 2008

The ESDC won't ignore the market, in Manhattan, at least

Atlantic Yards Report

Norman Oder points out ANOTHER example of how Bruce Ratner's controversial Atlantic Yards project is different from any other New York State-sponsored project:

When it comes to declaring parts of Prospect Heights blighted, the Empire State Development Corporation (ESDC) conducted no market analysis, as a lawyer for the petitioners challenging the Atlantic Yards environmental review pointed out in court last May.

And the Metropolitan Transportation Authority waited 18 months after city and state officials announced support for Forest City Ratner's developher as the Atlantic Yards developer to issue a Request for Proposals for the Vanderbilt Yard

When it comes to selling two parcels of land adjacent to the Javits Convention Center to raise money for Gov. Eliot Spitzer's budget, however, the ESDC wants very much to consider the market.

Click here to read ESDC chair Patrick Foye's strategy.

Posted by lumi at February 5, 2008 5:08 AM