Soaring City Tech Tower Cut Down to Size
Forest City Ratner’s plans to develop the tallest building in Brooklyn are no more, according to an article in the Daily News. The Renzo Piano-designed City Tech tower on Jay Street was supposed to reach 100 stories, with CUNY facilities on lower floors and condos on upper levels. Now Piano is off the job and…
Forest City Ratner’s plans to develop the tallest building in Brooklyn are no more, according to an article in the Daily News. The Renzo Piano-designed City Tech tower on Jay Street was supposed to reach 100 stories, with CUNY facilities on lower floors and condos on upper levels. Now Piano is off the job and the building may only be built to a modest 10 stories. City Tech’s whittling follows a deal collapse between FCR and CUNY; according to an FCR-CUNY statement, the ambitious project could not be reconciled with the college’s immediate need to move forward with a first-class academic space to serve its growing student enrollment.” A Brooklyn Paper story on the collapsed deal quotes Councilman David Yassky as saying FCR’s decision probably has to do with Bruce Ratner’s iffy finances and the fact that many developers are reconsidering residential construction. He may be overextended right now, said Yassky. Look, a lot of developers are re-evaluting their numbers and feel that residential buildings don’t work right now, he said. Whatever the logic is behind the decision, it seems like a pretty big blow to the ongoing plans to change the face of Downtown Brooklyn.
Ratner Tower Whittled Down [NY Daily News]
Ratner Kills Mr. Brooklyn [Brooklyn Paper]
Development Watch: City Tech Tower, Take 2 [Brownstoner]
Thank Goodness!!
Not the demise of Brooklyn, the demise of Ratner and his boondoggles.
Dancing in the streets!
I personally think any project that Ratner is a part of that goes under is a good thing.
Why are you people complaining?
We don’t need this right now, everyone hated the building in the first place and no one seems to like Ratner.
But now you want to take this one piece of information and turn it into the demise of Brooklyn?
What is WRONG with you people?
“Councilman David Yassky as saying FCR’s decision probably has to do with Bruce Ratner’s iffy finances and the fact that many developers are reconsidering residential construction. “He may be overextended right now,—
Read this statement over and over again. Ratner is in Fuckedville.
Remember about the Credit Market Thing? Well the rates and the spreads are going parabolic!!!! The credit markets are frozen fucking shit and this may have a effect to find financing for the stadium.
The What (Boy this shit is getting good)
Someday this war is gonna end…
This is SO OUT OF THE BLUE.
How could anybody have foreseen this?
Cue Nelson Muntz laugh, “Hah hah!”
“cue The What’s entrance with a tirade of doom and gloom for asshats!”
I don’t have to do anything. This shit is imploding on it’s own. I hope you asshats are paying attention, the developers are looking for the exits. More and more each day I think the Nets will be in Newark NJ.
The What
Someday this war is gonna end
I hope so 10:37
Regarding these big buildings – it seems they would meet demand over a period of time but it is foolish to keep building at this pace. Stop for a while, let the communities absorb the new residents and then move on from there. Sounds like a plan, doesn’t it?
I think Ratner reduced it by 90% because he’s worried it might be worthless once AY is built. Anyone know whether this means AY will get massive reductions in scale as well? Let’s hope.