« Another potential snag for AY arena financing: foregone property tax may severely cap tax-exempt bonds | Main | PRESS RELEASE: Community Leader Ken Diamondstone Announces He Will Run for City Council in Brooklyn's 33rd District »
June 17, 2008
Musical Chairs in Emerging BAM “Cultural District”
Gothamist
Congratulations Bruce Ratner, Atlantic Yards is now the poster project for developments that don't go forward as originally planned.
In 2004, Mayor Bloomberg agreed to set aside property in Fort Greene for the construction of a $48.5 million, 299-seat classical theater (above) designed by Frank Gehry and Hugh Hardy for Theater for a New Audience. The itinerant company has not had a permanent home since it started in 1979; the glassy new building would be built on city-owned land in Fort Greene opposite the Brooklyn Academy of Music, in a planned BAM “Cultural District.”
Well, as Atlantic Yards developer Bruce Ratner might privately admit, stuff happens: In 2006, the proposed site of the not-yet-built theater was moved to a lot across the street, on the corner of Ashland Place and Lafayette Avenue. Now the Sun reports that the theater will shuffle down the block so the city can use the site for affordable housing.
...It was also revealed yesterday that the planned public library designed by Enrique Norten that was to have risen next to BAM has been aborted due to lack of funds. Instead, Two Trees Management is finalizing a deal to buy the land from the city for $20 million and build a mixed-used facility designed by the same architect.
NoLandGrab: Heck, who needs another public library when having to forego tax-free bonds might cut into the profits of the Yankees, Mets and Nets?
Posted by eric at June 17, 2008 9:39 PM