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October 29, 2009
It came from the Blogosphere...
NetsDaily, 10 Questions for 2009-10?
8. Distractions much?
Sometime before Game 32, the Nets will know whether they will be moving into the richest arena in the history of the world, their every movement guided by the richest owner in the history of professional sports, or, or, or, who knows? Is this the last season at the Meadowlands and if so, will moving vans be driving a short distance or a very, very long distance? We may all become experts in bond rating minutia, Russian finance, who has money in Kansas City, Seattle and Newark, eminent domain law, everything but basketball.
9. Will anyone show up?
No matter what happens, Bruce Ratner et al have pushed the franchise into a state of disarray. Fans are disenfranchised…pun intended. The Nets are moving somewhere, to Newark, to Brooklyn, to God Knows Where, in the near future. No amount of ticket promotion, discounts, half-time shows, etc., is going to change that. Moreover, the product, while exciting and enthralling–whatever, is not likely to be very good…
The Cross Pollinator, More Reasons For Normal People To Vote Against Bloomberg
Finally, criticism of the mindless Bloomberg development of New York City. When Bloomberg says he’s not political because he has so much money, that’s such a load of crap. When these policy decisions happen, some parties benefit much more than other parties.
As evidenced by Atlantic Yards, which has benefited no one but Bruce Ratner, when Bloomberg’s policies get set up you can bet your ass it’s not for you, it’s for some rich cat he’s been drinking brandy with.
HOOPSWORLD, Is The Prudential Center NBA-Ready?
Is Brett Yormark changing his tune when it comes to the Prudential Center in Newark?
"It's been terrific," said Yormark. "Obviously it's a new arena. It has great new amenities. The fans seem to really enjoy it.
"(There is) a big concentration of fans from Essex, Middlesex and Union county – counties that we typically don't draw a lot from," he added.
..."We were also surprised to realize that over 13% of the people used the rail service," said Yormark. "So, we're in a dense market that provides rail and it's a new building, so it's a great experience."
Reason Hit & Run, The Specter of Condemnation is Haunting New York
Daniel Goldstein, the lead plaintiff in the New York eminent domain lawsuit Goldstein v. New York State Development Corporation, takes to The Huffington Post to explain just how high the stakes in the case really are.
NYC Rubber Room Reporter, Mike Bloomberg's Plans For New York City Dont Always Work Out
Developers knocked down a shopping mall to make way for the grand City Point development: new apartments, a retail boulevard, a tower of commercial space. It has yet to materialize.
UnBeige, Ellerbe Becket Gets Bought Out by AECOM Technology Corp.
Becket, you might recall, has come to more prominence recently for seemingly being Populous' only rival in the stadium building game, most recently getting handed the high-profile commission to design the New Jersey Nets Arena at Atlantic Yards after Frank Gehry got booted.
MultifamilyInvestor, Stuyvesant Town, Atlantic Yards, and the Road to Hell
Two major commercial real estate disputes have been winding their way through New York’s court system. In both cases, a municipality intervenes in the free market, ostensibly for the greater good of the community. Unfortunately, those well-meaning intentions end up doing more harm than good – especially when accepted rules are either discarded or rewritten.
...Plaintiffs’ properties in Atlantic Yards, like plaintiff Kelo’s house, are in otherwise good condition. Their only “sin” is that they are located within a development area. The Court in Kelo reiterated that a municipality may not take property under the pretext of a public purpose, when its actual purpose was to bestow a private benefit. (Speaking of private benefits, the proposed Atlantic Yards arena in Brooklyn will cost the city nearly $40 million, according to New York City’s Independent Budget Office. By contrast, the developer stands to receive $726 million worth of public benefits for the project.)
NoLandGrab: Interestingly, MultifamilyInvestor blogger and big-time real estate broker Neil Gronowetter is a member of both the Brooklyn Chamber of Commerce and the Real Estate Board of New York, two organizations that have been unrepentantly pro-Atlantic Yards.
Joshua Malbin, Sigh…Sold Out Again
At this point I’m no longer even surprised.
...This is the problem with mega-developments: government officials tie their boats to them and then can’t afford to cut free when they run way off course into the middle of a hurricane.
What do they care? It’s not their money and it’s more than clear that none will ever pay a political price for their cronyism.
Posted by eric at October 29, 2009 8:31 AM