Atlantic Yards Will Survive...Kind Of
It’s not the economy, stupid. Except it is. Last week, Forest City Ratner blamed the eminent domain lawsuit for delays at Atlantic Yards, and yet now he says that the project will remain pretty much on hold until the economy rebounds. The $4.2 billion project will survive, they say, but it may take even longer…
It’s not the economy, stupid. Except it is. Last week, Forest City Ratner blamed the eminent domain lawsuit for delays at Atlantic Yards, and yet now he says that the project will remain pretty much on hold until the economy rebounds. The $4.2 billion project will survive, they say, but it may take even longer than expected. “‘I think we can successfully delay until we are prepared to start [the project],’ Forest City President Charles Ratner told investors just hours before the price of the company’s stock fell 15%, to $7.02 a share,” writes the NY Daily News. Atlantic Yards isn’t the only Forest City project relegated to the slow lane; they’ve “put virtually all new development on hold until economic and financial market conditions improve meaningfully.” Opponents to Atlantic Yards reacted to the news with “a mixture of glee and fear.”
Atlantic Yards Will Go Up… When Economy Does [NY Daily News]
Photo by NoLandGrab.
Onevalianteffort- Pro-AYers use the NIMBY label, usually screamed at the top of their lungs so as to provide maximum distraction from the fact that few people are NIMBY- they just want intelligent, responsible development.
Have you seen the plans for AY? It’s huge, it’s ugly, it puts enormous strain on the area infrastructure and will pack a kizload of people into the area without increasing or improving public transportation and utilities. It will close off a substantial part of Pacific St. (how do we give up public streets to a private developer is anybody’s guess- and what, if anything is giving us in return)?
On top of the taxpayers are seeing a big chunk of change going to Ratner for this, he keeps changing the plans so that any promises he may have made in order to get the project going, are now off the table, he paid next to nothing for the air rights, he bypassed the proper vetting process (he’s got friends). And he has the nerve to want eminent domain for this.
So if I would rather see that hole in the ground instead of AY- yep. If we’re going to build there, do it rightand do it responsibly because we’ll be living with that monstrosity for a long time.
FtGreenCorey, you are just wrong, the development site wasn’t and isn’t a “hole in the ground.” The rail yard is trench, and guess what, it is an active rail yard. wanna build on top of it? great. but the rest of the site? no hole. no trench. city streets, and private homes and businesses. no hole. thus the so-called “frivilous” litigation.
build on the actual “hole” and voila, development.
FCR isnt stupid. They did take forever to build Renaissance Plaza and Metrotech. So they know how to muddle thru. But they havent been up against an educated group that will, as has been seen, fight the good fight because someone has to.
If anyone here, myself included, had put as much personal time and effort into disseminating information as the Anti-AY crowd has, we would make the status quo not quite so quo.
Keep up the fight guys. I may not agree completely with you, but on the whole this really smells.
FtGreeneCorey…I don’t think people on this blog are predominantly NIMBYs….IMHO
As I was saying before, and as FSRQ echoed, the guys at FCR are not stupid, and on top of that they are patient. Don’t be shocked if in five years AY is viewed as a means of jumpstarting the New York economy, “creating jobs and providing much needed affordable housing” (Where have we heard that before?).
Onewailianteffort…as to why people on this blog are Anti-AY (which would be located in an area that has been a hole in the ground for 50 years and WILL BE a hole in the ground for another 50 years) I’m not sure if your new to Brownstoner and/or this AY debate, but welcome to Brooklyn! Certain people in Brooklyn (and particularly the people on this blog) are NIMBY’s that are anti-anything that is not a “tree lined brownstone block” (Atlantic Yards, highrises in DOWNTOWN Brooklyn, Brooklyn Bridge Park, Willoughby Square Park, etc.)
Here’s the performance since you asked What
———-Fund (USA) LP
Flash Net Performance
November 28, 2008
Month Year to Date
————-Fund (USA) LP (preliminary) -1.80 % -16.69%
onevalianteffort recognizes the gorilla in the room and calls it like it is!!!!!!
“You better bring you crystal ball in for warranty service…..Bloomberg is so getting re-elected it isnt funny.”
fsrg, that was a good one. What are your thoughts on Bloomberg coming back for a third term?
“The What (Don’t lose your job Biff)”
Not looking like I will, but thanks for your concern old friend. Can you believe we’re still getting bonuses this year?
I suppose this was another phase too:
“I going to take a break from posting here. Brownstoner has jumped the shark and when you take down my post on the economy I think it’s time to go. I have other things to worry about and I not going to waste my energy and time posting here.”
The What (I’m done)
Someday this bullshit is gonna end…
Posted by: Return of The What at November 24, 2008 11:47 AM