« Wired Deals | Main | Delay that order! Court pushes back Yards case »
March 7, 2008
Update: CUNY gives Ratner failing grade
The Brooklyn Paper
By Gersh Kuntzman
Here's some insight into how the project to build Bruce Ratner's skyscraper "Mr. Brooklyn" was cancelled.
The City University of New York scotched a plan to hire Bruce Ratner to build a new lab and residential skyscraper in Downtown Brooklyn because the Atlantic Yards developer would be too expensive, too slow and too controversial, The Brooklyn Paper has learned.
A newly surfaced memo shows that CUNY wanted out of its deal to pay Ratner $307 million — up from $86 million in 2005 — to build a new facility for City Tech on Jay Street because costs had begun to soar.
Posted by steve at March 7, 2008 7:14 AM