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Reader comment on:
Unease Erodes Ambition in Real Estate

Submitted by Michael D. D. White, Mar 3, 2008 14:53

The "Arrested Development" chart on today's front page accompanying this article should have one more row and more columns. One column should indicate whether or not the developments will be privately or publicly owned and another should show the amount of public subsidy going into the project. The extra row should show the privately owned Atlantic Yards megadevelopment. From this we could then see that Atlantic Yards, slated at $4.4 billion when it was approved by the PACB in 2006, is remarkably alone in having more than half (more than $2 billion in public funds) being poured into assets that will be privately owned. And the project and all these subsidies were awarded on a no-bid basis.


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If Goldman Sachs -- which may be hit somewhat less hard than the other investment banks, but which is still... [MORE]

Rionn Fears Malechem 

Mar 7, 2008 16:53

Conceptually, New York conservatively has enough money for 5 or 6 megaprojects, but the leadership of the MTA & PA... [MORE]

Bernie Goetz 

Mar 3, 2008 19:17

The "Arrested Development" chart on today's front page accompanying this article should have one more row and more columns. One...

Michael D. D. White 

Mar 3, 2008 14:53

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