The Brian Lehrer Show
Yard Work
Matt Schuerman, WNYC economic development reporter, and Greg David, editor of Crain's New York Business, look at the new railyard deal for Manhattan's west side and check in on the development of the Atlantic railyards in Brooklyn.
Tishman is paying $1 billion for a 99 year lease. How does that get paid? $10 million/year? How does that help the MTA?
This was simply a Bloomberg give-away to a rich real estate developer. Shame on the politicians and the PRESS for not pointing this out.
Many, if not most, of the big projects seem stalled in New York, yet many smaller projects are moving forward. If we want the Atlantic Yards footprint to be developed, doesn't it make sense to pursue the alternate plan, UNITY, which is advocated by DDDb? The UNITY plan calls for multiple developers, which might be a better way to make sure that the area doesn't sit fallow for years.
The Ratner proposal sits in Prospect Heights, which remains one of the stronger neighborhoods for real estate. New York should take advantage of the strength of this market, even though Ratner doesn't have the means.
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