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October 8, 2009
It came from the Blogosphere...
Brownstoner, Omissions and Lies in Atlantic Yards Study
And while we're talking about Richard Meier's building, let's take note that $1,225 is the maximum price per square foot listed on StreetEasy for his building, not the average, plus the fact that the building isn't even half full, even though the KPMG study claims it's 75 percent sold. Finally, Oder notes that "450 of the 2,250 subsidized 'affordable' units were to rent at $40/sf, while another 450 were to rent at $32/sf," even though current rents for Fort Greene, Prospect Heights, and Park Slope range between $23 and $48 per square foot already—in the case of Prospect Heights, the $40 price tag will actually exceed the neighborhood's current maximum of $39. So, in summary, we've got: false statistics, ungrounded claims, and purposeful omissions. Another day at the office.
NY Fiscal Watch, Report: NYS dominates eminent domain abuse
New York’s em-dom abuse — I wrote about this, too, a long time ago, here — has fiscal consequences. In Brooklyn, the threat of eminent domain has allowed developer Forest City Ratner to push business owners into “voluntarily” selling their property for a proposed basketball stadium / affordable-housing scheme.
The threat of eminent domain has frozen business activity in the “footprint” of the stadium and apartments towers, which is bad for New York’s fisc, and also bad for New York’s stated goal of encouraging more middle-income jobs and diversification of the economy away from Wall Street.
Further, if the project ever gets built, it will narrow the business-tax base, since it replaces tax-paying business owners with a politically connected developer who benefits from a myriad of tax exemptions.
The Socialist WebZine, ACORN: A Flesh-Eating Machine or Left–Wing Conspiracy?
Atlas describes the struggles surrounding a mega-development project proposed in Brooklyn called the Atlantic Yards project. Real estate magnate Bruce Ratner authored the project and managed to secure significant concessions from NY City and State governments using eminent domain laws to displace residents. Community opposition developed immediately, resulting in the creation of the Develop Don’t Destroy Brooklyn coalition and dissent from prominent Democratic Party officials.
Though they seemed like a perfect fit for the opposition, ACORN’s New York leader, Bertha Lewis, did not head to the picket line, preferring, instead, the negotiating table with Ratner.
Curbed, Atlantic Yards on Ice?
Brooklyn mascot Marty Markowitz is getting a bit greedy now, demanding that a second professional sports franchise get moved to the borough.
NoLandGrab: The way the planned arena has been redesigned preempts hockey from being played in it.
Posted by eric at October 8, 2009 4:01 PM