BREAKING NEWS - Atlantic Yards Vote Delayed Until '07

Curbed is a blocked url at my office, can you post the text of the article

This is excellent news!

it is good news
Silver was a major factor in stopping the jets west side stadium in Manhattan.
im not sure what his motivation was however.

with the approval of federal funds for the LIRR extension into grand central and the near approval of fed funds for the east side subway line in Manhattan it looks like the atlantic yards project and Moinihann station are going to have to be totally reconsidered.

i think it would be almost impossible for all 4 of those things to go on at once on top of the freedom tower project.

remember all the vicious anti west side stadium adds cablevison put out?
why cant DDDB get the Dolan families ear and get funding for some anti Nets stadium TV spots? it seems to me that a nets stadium would pose the same threat to cablevisions monopoly on large venue events in NYC.

I don't know about that, Jack. Is BUILD taken seriously, or do they do anything at all at this point? You used to hear about them frequently before the conflict of interest financial support from the Rat was disclosed, and they kind of disappeared into the woodwork. Perhaps they're just carrying out FCRs bidding behind closed doors, like any other FCR employee.

I think time does matter, partially because of this reason: the new luxury condos for sale RIGHT NOW are sitting unsold, it makes no sense to build thousands more at taxpayers expense when there is now a glut of them.

The project has been herded through at each level without a full disclosure or realistic tally of the cost to taxpayers and supposed "benefit" to the city. FCR is trying to avoid a close look at the finances, which simply don't add up to anything but profit for a private developer at taxpayer expense. Let's take a real, close, public look at that.

I do sincerely hope this scam is dead. And someone who really cares about Brooklyn develops something contextually correct and truly beneficial to more than a handful of wealthy old men there.

wow, eliminate all the non-market rate units? you're begging to get flamed, aren't you??

jgregorie wrote: remember all the vicious anti west side stadium adds cablevison put out?
why cant DDDB get the Dolan families ear and get funding for some anti Nets stadium TV spots? it seems to me that a nets stadium would pose the same threat to cablevisions monopoly on large venue events in NYC.

The Dolans have stated publicly that they do not have any plans to oppose the AY project. We'll see if they really mean it ...


But Jim Dolan recently said he isn't scared of the competition Ratner's arena would bring the Garden and has no intention of asking Silver to reject it.
http://www.nypost.com/seven/12202006/news/regionalnews/sheldon_close_to_brooklyn_arena_ok_regionalnews_fredric_u__dicker_and_rich_calder.htm

ha

typical Manhattan elitism i guess.
brooklyn isn't part of the city.

ana.log wrote: [quote=jgregorie]remember all the vicious anti west side stadium adds cablevison put out?
why cant DDDB get the Dolan families ear and get funding for some anti Nets stadium TV spots? it seems to me that a nets stadium would pose the same threat to cablevisions monopoly on large venue events in NYC.

The Dolans have stated publicly that they do not have any plans to oppose the AY project. We'll see if they really mean it ...


But Jim Dolan recently said he isn't scared of the competition Ratner's arena would bring the Garden and has no intention of asking Silver to reject it.
http://www.nypost.com/seven/12202006/news/regionalnews/sheldon_close_to_brooklyn_arena_ok_regionalnews_fredric_u__dicker_and_rich_calder.htm

homeowner wrote: escap, its my understanding that the $200mm is for infrastructure costs necessary for the project. Essentially the city and state issue tax exempt bonds to pay for things like water and sewer lines, street construction, or other improvements that they would be responsible for as a result of the project. So there is the possibility that the failure of the government to undertake those improvements might have a bigger impact on the overall project.

Ah, thank you, that makes sense. Still, I wonder what Ratner's "Plan B" is. I know he may move the stadium to Queens or leave it in NJ, but what about the land he's already paid billions for? If he tried to sell it he'd get slaughtered in the market, so that's not an option. I can't imagine he'd just want to sit on it for a decade or so until the political winds shift. I wonder....

Incidentally, the PACB's job is to ensure that those bonds can be repaid, no? It strikes me as inconceivable that Silver has legitimate concerns over the ability of this project to finance a mere $200MM in debt--which means that he is essentially grandstanding and using this unique position, once again, to wring some kind of horse-traded political benefit for himself. Frankly, I have to admit that I have increasing concerns about the project myself (I know, this is a shocker), mostly relating to the so-called "affordable" units, and some other aspects as well. But opinions of the project aside, I do find Silver's opportunistic misuse of his position to be pretty outrageous.

Looks like all of the wishful thinking on NoLandGrab, brownstoner, and this blog was for naught. The project has been approved.

Atlantic Yards Project Wins State Board Approval

By THE ASSOCIATED PRESS
Published: December 20, 2006

ALBANY, N.Y. (AP) -- A $4 billion redevelopment project that could reshape Brooklyn with an NBA basketball arena, office towers and thousands of apartments was approved Wednesday after months of maneuvering among New York state's top political leaders.

The state Public Authorities Control Board voted unanimously to authorize the Atlantic Yards development, a sprawling reuse of a downtown Brooklyn railyard that would include a new home for the New Jersey Nets.

The state would pay $100 million and New York City would pay $100 million toward the project.