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September 11, 2008

Atlantic Yards To Begin Construction By Year's End

NY1

Bloomberg-NY1a.jpg Somehow news that Atlantic Yards developer Bruce Ratner is facing hurdles to keeping his pledge to break ground in December, as reported yesterday in the NY Times, turned into a puff piece for Ratner's announcement.

NY City Mayor Michael Bloomberg, who continues to act like the City isn't spending a dime on this project, repeated his perennial mischaracterization of the deal thusly:

"We desperately need to have development and that's a very big part of the development in Brooklyn. I don't know that we have to put government money in, but we certainly will do everything we can to work with Ratner to get those buildings going," said Bloomberg.

link

NoLandGrab: For the record, NY City is giving Bruce Ratner $205 million in direct subsidies and the Times reported yesterday that Ratner is asking for another $100 million.

Posted by lumi at September 11, 2008 4:00 AM