Tuesday, September 30, 2008

Either Ratner has more power than even my conspriacy theories allude to....

or he's just plain nuts no land grab writes::

Déjà delay all over again, redux

The stories about more Atlantic Yards delays just keep on comin'.

Gothamist, Atlantic Yards Project Further Delayed By State Court

In light of yesterday's ruling, Ratner says the groundbreaking "may" be delayed another six months. The developer is also waiting for the IRS to rule on whether he can use tax exempt bonds to pay for the $1 billion arena, which he intends to build first. He's also struggling to line up financing for the rest of the $4 billion project, doesn't have an anchor tenant for the office tower, and city officials have not shown much enthusiasm about his recent request for $100 million more in taxpayer subsidies.

Curbed, Atlantic Yards 'Will Go Forward'

Bruce Ratner declares "let me be clear," yadda, yadda, "will go forward," yadda, yadda, "all the more important," yadda, yadda, "committed as ever," yadda, yadda, "ensure that it goes forward," yadda, yadda.



Ratner, do you read the same papers I do? are you in a fantasy world? You realize that NY is already overbuilt (good luck even hustling off your overprice luxury rentals on dekalb) the market's going to be over built for years, and we're in the worst financial crisis since the 1930s...and you want to built an lavish Arena with luxury skyboxes surrounded by office towers? You know the financial industry - one of NY's most important employers - is in a 'bit' of a downturn, dont' you?

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