Comments on: Atlantic Yards One Step Closer To Compromised Development

By: Who Sacrifices Money To Uphold Their Principles In Real Estate? | MultifamilyInvestor

Sun, 03 Jan 2010 01:42:58 +0000

[...] for eminent domain. Records released under the Freedom of Information Act, however, reveal that Forest City need only seek funding through subsidies for affordable housing. If the developer cannot…. There is no guarantee that the project will include any affordable [...]

By: What Are The Odds That The NY Court of Appeals Will Admit Its Own Decision on Atlantic Yards Was Wrong? | MultifamilyInvestor

Fri, 11 Dec 2009 02:27:05 +0000

[...] by Neil · Leave a Comment In a valiant Hail Mary attempt to run down the clock, the plaintiffs who lost their eminent domain lawsuit in the Atlantic Yards case have moved to re-argue their case before the New York State Court of [...]

By: Neil

Neil — Wed, 25 Nov 2009 23:59:33 +0000

Tracy,

It’s a huge story. I’m all for multifamily development, but the number of instances of lack of fair play on the part of the state and the developer give me pause.

The property will not be developed as it was supposedly first envisioned.
The number of affordable housing units, the very justification for eminent domain, is questionable at best. Under the current rules, the developer need only apply for government assistance for affordable housing. Forest City Ratner is not obligated to build a single unit.
Furthermore, the number and scope of sweetheart deals between New York and the developer are staggering.

On top of that, the Court of Appeals made the wrong decision here.

By: tracy collins

tracy collins — Wed, 25 Nov 2009 23:43:25 +0000

“We” are the opposition to this development.

By: Neil

Neil — Wed, 25 Nov 2009 23:39:21 +0000

Tracy,

Thanks for following my blog.

Who’s “we”?

Neil