{"id":1076,"date":"2006-05-23T11:40:49","date_gmt":"2006-05-23T19:40:49","guid":{"rendered":"https:\/\/www.bridgeandtunnelclub.com\/wordpress\/archives\/2006\/05\/quick_change_developing.html"},"modified":"2006-05-23T11:40:49","modified_gmt":"2006-05-23T19:40:49","slug":"quick_change_de","status":"publish","type":"post","link":"https:\/\/www.bridgeandtunnelclub.com\/blog\/archives\/2006\/05\/quick_change_de.html","title":{"rendered":"“Quick Change” Developing"},"content":{"rendered":"

A novel approach to encouraging neighborhood-friendly developments (.pdf<\/a>):<\/p>\n

Bruce Ratner would get hundreds of millions of dollars in state funds if he builds less at Atlantic Yards, under a new state Assembly bill.<\/p>\n

Assemblyman Jim Brennan (D-Park Slope) has proposed capping the total size of Ratner’s Atlantic Yards mega-development at 5.85 million square feet — down from the 8.7 million square feet in the current project, which features 17 skyscrapers, 6,900 units of housing, retail and office space, a hotel and a 19,000-seat arena for the relocated New Jersey Nets.<\/p>\n

To compensate Ratner for the smaller project, Brennan’s bill would give the developer the Atlantic Yards site for free, rather than charging him $100 million for it. The MTA had appraised the site at $214 million.<\/p>\n

In addition, Brennan’s bill would relieve Ratner of his obligation to renovate the Long Island Rail Road yard, saving him another $200 million, the assemblyman said.<\/p>\n

Brennan’s bill would also require the state — rather than Ratner himself — to subsidize the 50-percent of the project that Ratner agreed to set aside as affordable housing.<\/p>\n

“This bill is like negotiating with a hijacker,” said
\nDaniel Goldstein, spokesman for the anti-Atlantic
\nYards group, Develop Don’t Destroy Brooklyn.<\/p>\n

“Brennan is saying, ‘OK, OK, here’s some money. Just don’t build it so big!’ He’s throwing money at a developer to not build something he hasn’t even gotten the right to build yet.”<\/em><\/p><\/blockquote>\n

(That’s how that all works . . .<\/a>)<\/p>\n","protected":false},"excerpt":{"rendered":"

A novel approach to encouraging neighborhood-friendly developments (.pdf): Bruce Ratner would get hundreds of millions of dollars in state funds if he builds less at Atlantic Yards, under a new state Assembly bill. Assemblyman Jim Brennan (D-Park Slope) has proposed capping the total size of Ratner’s Atlantic Yards mega-development at 5.85 million square feet — […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-1076","post","type-post","status-publish","format-standard","hentry","category-brooklyn"],"_links":{"self":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/1076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/comments?post=1076"}],"version-history":[{"count":0,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/1076\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/media?parent=1076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/categories?post=1076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/tags?post=1076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}