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February 26, 2010

Pinsky hopes for AY groundbreaking in weeks, says projects should emerge via RFPs; Gilmartin says FCR's frustrated with absent government coordination

Atlantic Yards Report

At an interview and panel discussion sponsored by BISNOW on Wednesday February 24, Atlantic Yards was mentioned as an example several times by Seth Pinsky, president of the New York City Economic Development Corporation (NYC EDC), and MaryAnne Gilmartin, the Forest City Ratner executive in charge of Atlantic Yards.

While Pinsky said "we hope to break ground in just a matter of weeks" on Atlantic Yards, perhaps the most interesting statements concerned the unsaid: while he asserted that the city's projects emerge from community consultation and that the best way to proceed was via RFPs (Requests for Proposals), Atlantic Yards proceeded differently.

Gilmartin expressed frustration at the lack of coordination among government agencies working on Atlantic Yards, without acknowledging that, while that certainly may slow things down, it also can give the developer the upper hand.

She also asserted that, in contrast to the example of Stuyvesant Town, Forest City has avoided the "exuberance" of inflated expectations--even though a report from KPMG on Atlantic Yards housing suggests similar expectations.

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Posted by eric at February 26, 2010 9:31 AM