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May 13, 2010
In Daily News, Yormark defends Ratner; wishful editorial urges Prokhorov to build subsidized housing planned for AY project
Atlantic Yards Report
Prokhorov, with ownership interests in the team and arena, has an option for 20% of the rest of the project, but no role in it. He has no obligation to build the subsidized housing nor has he made a commitment to do so. He got involved in Atlantic Yards as a platform for business expansion in the United States.
The affordable housing will be built if the city and state administrations assign enough scarce subsidy dollars to do so. What no one's analyzed is whether more such housing could be built elsewhere with the same dollars.
Posted by eric at May 13, 2010 11:57 AM