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March 9, 2008

The upside of the Miss Brooklyn switch: less density, more public revenues?

Atlantic Yards Report

Given that the flagship Atlantic Yards tower Miss Brooklyn has apparently been shifted from a mix of condos and office space to all office space (after being originally announced as office space), that could adjust two statistics that might make the project look better.

As I wrote February 27, the project's residential density would go down from 292 apartments/acre to 273 apartments/acre, still a high number but a 6.5% drop.

More importantly, an increase of more than 200,000 square feet of office space might be seen as significantly recouping the projected $456 million loss the Empire State Development Corporation calculated in December 2006 when 270,000 square feet of office space was cut.

Those dramatic numbers never fully made sense, so any future projection should be subject to more public vetting.

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Posted by amy at March 9, 2008 11:58 AM