Brooklyn Rail Yard Fight

Peter Slatin interviews a reclusive developer who's competing towin a major Brooklyn development site.

1 minute read

July 11, 2005, 11:00 AM PDT

"Leveraging community displeasure over the unruly scope of Forest City Ratner's $3.5 billion, 21-acre plan for the Atlantic Rail Yards in Brooklyn, Gary Barnett's Extell Development Co. submitted a rival, 11th-hour bid for the site to the Metropolitan Transportation Authority. Although Barnett's is proposing to build one-third of the housing that Forest City Ratner envisions, sources close to Extell claim that their bid price may exceed that of the more firmly entrenched opposing bid... The competing proposals reflect starkly contrasting development philosophies and divergent approaches to the Brooklyn neighborhoods in question.

Unlike the Forest City plan, Extell's development scope is restricted entirely to the Atlantic Yards site, and so does not impinge on existing property or require seizure of private land under eminent domain."

Thanks to Peter Slatin

FULL STORY: Yard Fight

Friday, July 8, 2005 in The Slatin Report

Housing New York

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