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The Post reports that developer Bruce Ratner's Forest City Ratner is "trying to cut back on much-needed transit improvements, which he promised in exchange for approval for the controversial $4 billion" Atlantic Yards project. This is the latest bad news for the ambitious project—most recently, Ratner has been downsizing the buildings.
Forest City Ratner bought the MTA's Vanderbilt Railyards for $100 million, beating out a $150 million bid from Extell, whose bid also didn't require all those state subsidies. The Post adds that the MTA found "the rail yard worth $214.5 million. [But] Ratner won out after convincing the MTA his plan was actually worth $445 million, by claiming it included $345 million in transit enhancements," including "a $182 million replacement rail yard, an environmental cleanup, and other improvements around the bustling Atlantic Avenue transit hub." But that's all apparently up in the air—and Ratner hasn't paid the MTA the $100 million yet. The Atlantic Yards Report pointed out that MTA CEO and Executive Director Eliot Sander was worried where that money was...last April!
Develop Don't Destroy Brooklyn's Daniel Goldstein says the MTA should look for more bidders once again, while a FCR spokesman says the company is "committed" to the improvements.
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Seems to me if Ratner's breaking his end of the deal there's no deal. Brooklyn doesn't need another Ratner-style wasteland -- the city should get rid of his project.
It seems like someone is not keeping their end of the deal up. Since no money has changed hands, it should be nixed.
More bidders, PLEASE! Turn it into a park and save the innocent neighbors from eminent domain takeovers.
Bad time to reopen the bidding but the MTA needs to break this bad deal and seek out proposals for something viable in the future. Bruce Ratner just needs to ride his deadbeat ass outa town.