Timetable for Phase 1 of Atlantic Yards Extended From 12 to 19 Years
At one point, Phase 1, which includes four towers on the arena block, was supposed to take just four years; then it was 12; now, after the latest ESDC extension, it’s up to 19. Lots of details on Atlantic Yards Report.
At one point, Phase 1, which includes four towers on the arena block, was supposed to take just four years; then it was 12; now, after the latest ESDC extension, it’s up to 19. Lots of details on Atlantic Yards Report.
MM,
Unfortunately they’ll be taking our tax money for as long as we let them take it. Which doesn’t bode well for anyone – anyone that’s not a stockholder of FCR.
When you look at the opportunity cost of using that money for real development (instead of the benefit going to very, very few already rich individuals) this will be a case study in corporate welfare for decades to come.
19? Let’s make it a number with some gravitas to it. How about 25? Why not? It’s all arbitrary anyway.
Let’s see. If someone has a baby this year, by the time this project is finished, the child can rent/buy and move in. Maybe. More than likely, they will have children too, and can continue a tradition of going to the AY site, and telling their kids, “one day, you can live here.”
It amazes me that after all the crap, people can still cheerlead for FCR. It has nothing to do with lawsuits or DDDB, as architect66 said. I agree with M4L, how long will they be taking our tax money and dragging this out into infinity?
Benson,
The phrase you quote [and want us to bet on] is perfectly appropriate, but so patently obvious in the AY case that it doesn’t have to be repeated 🙂
Let’s all play today’s Brownstoner betting pool folks – it’s fun!
Today’s bet: how many posts on this thread before the phrase “back room deals” appears?
Sing it, architect66. The song is called “Pig in a Poke.”
can we yank the tax out of the project given this news? if not, let’s move it along and make sure those politicians involved gets voted out.
FCR’s projections for development were an obvious fantasy. Totally unsurprising that the project has “magically” morphed from a 10 year project to a 20 year project. Has nothing to do with DDDB and lawsuits, btw.
what dave said.
Right . . . DDDB. That’s the problem here.
Ratner said anything that was necessary to get our tax money. And we didn’t care when he lied. We got conned. Plain and simple. We’ll live with the debt, as will our children.