Had the ESDC disclosed the terms of the Development Agreement that were being negotiated when the petitions were initially heard, or brought the Agreement to the court’s attention promptly after it was executed... the balance of the equities may have favored a stay..."
—New York State Supreme Court Justice Marcy Friedman*
The latest bombshell to drop at the Atlantic Yards project came yesterday with the release of renderings of its first planned residential tower. As reported today by the Wall Street Journal,
Mr. Ratner said Thursday that the existing incentives for developments where half the units are priced for middle- and low-income tenants "don't work for a high-rise building that's union built."
He added that he had "accepted the fact that we're not going to get more subsidy."
City Council committee approves request to State legislature for residential parking permits in New York City
On Wednesday, November 2, the New York City Council Committee on Federal and State Legislation passed a resolution for a “home rule message” to the New York State legislature for passage of bills S2325 and A4266 authorizing New York City to implement residential parking permits (RPP) in the five boroughs. RPP would give the City a powerful tool to reduce demand by Barclays Center patrons for local streets.
Construction of the Barclays Center arena is moving ahead, but the completion of Phase I and all of Phase II of the Atlantic Yards project risks being significantly delayed. Sadly, the promises of jobs, economic vitality for the area, income for the City of New York, affordable housing, and open space all seem unlikely to be realized for decades, if not generations.
BrooklynSpeaks and Develop Don’t Destroy Brooklyn want successful development of the Atlantic Yards site. We want what the State and City want: the economic development, the jobs, and the public benefits that a healthy development can provide—not in the 25 years now understood by all as being likely, but within the next few years as needed.