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April 6, 2010
It came from the Blogosphere...
The Architect's Newspaper Blog, The Public-Private Pit
Matt Chaban reports on a recent Eliot Brown Observer piece about the shocking public price tag for the new World Trade Center.
It’s a pretty sad reality for what was supposed to be a grand gesture in the face of tragedy. But pulling back from all that good will and high hopes, with the comfort of hindsight, it becomes clear this was just another development deal in New York City, possibly the granddaddy of them all. Look no further than Atlantic Yards or Columbia or, hell, the original World Trade Center itself to be reminded that this is just the way business gets done in this town. Which only begs the question, “How long until the next bailout?”
BNET On the News, Meet the Crazy Developers Building New Retail Centers Now
Just what America needs right now: a new mall or three. Yet there’s been a steady trickle of new retail centers breaking ground in the past few months, from California to Florida.
There’s already nearly 50 square feet of retail space for every man, woman and child in the U.S., and current retail vacancy rates are approaching 13 percent. Some existing malls currently sit abandoned and are being auctioned off.
...Here’s a look at some of the developers starting new shopping-center projects. They’re either just plain crazy or extremely patient when it comes to getting a return on their investment. Our money’s on the former, but some of these developers are very big players in the mall world.
...In Florida, The Village at Gulfstream Park opened in February, weighing in at nearly 500,000 square feet. This one’s near a racetrack, and the theory is to feed off the track’s visitors. Developer is $12 billion dollar powerhouse Forest City Enterprises (FCE) in Cleveland. Forest City lost $31 million last year but still has cash on hand to develop new malls. Also coming from Forest City is South Bay Center, a new 100,000-square-foot complex across from South Bay Galleria in Redondo Beach. The Galleria’s got a million square feet, but apparently that’s not enough to serve local southern California shoppers.
Brooklyn Born, Missed it Monday: Easter Sunday Edition
Easter Sunday in Brooklyn
I got around yesterday but not over to Ch'uch which I guess was just as well that I didn't because none of my clothing even comes close to the finery that familys were styling all over the borough. I caught up with one of those families after making a painful dash in search of a B45 bus stop (resulting from another Atlantic Yards failure, which I will be raising the ruckus about soon)....
Posted by eric at April 6, 2010 10:25 AM