As reported in the Wall Street Journal, the Department of City Planning is currently studying the merits of parking minimums in some of New York's transit-rich neighborhoods, like Harlem and western Brooklyn and Queens. And local interests in at least one neighborhood, Downtown Brooklyn, are starting to mobilize around the issue. While the coalition has yet to go public, sources say there have been preliminary discussions about reducing, or even eliminating, parking minimums in the area, which would be a big victory for sustainable transportation.They were also crazy when it comes to Atlantic Yards, adjacent to Downtown Brooklyn (or, if you believe the developer, part of it) and adjacent to a major transit hub, as I wrote in December 2007, calling it PlaNYC 1950.
Right now, parking minimums in Downtown Brooklyn force new developments to include huge garages, effectively subsidizing driving in one of New York City's most transit-rich neighborhoods.
...This round of discussions about parking minimums hasn't reached Community Board 2 yet, said District Manager Robert Perris, but he knows it's been tried before. "I know the Downtown Brooklyn Partnership, on behalf of certain developments, and the Brooklyner was one of them, went to DCP and said these figures are crazy here," recalled Perris. "They were not successful in those negotiations." The Partnership refused to comment for this story.
Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.
The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.
While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…