Saturday, November 28, 2015

Hubris: developer touts "public benefit" of new infrastructure, though railyard was downsized

The 11/27/15 tweet below from Pacific Park Brooklyn represents remarkable hubris: "Investing in complicated #infrastructure makes for the biggest public benefit."

Do keep in mind that the 2005 deal to build a modernized replacement Vanderbilt Yard to store and service Long Island Rail Road trains was revised, at Forest City Ratner's request, in 2009, and accepted by the Metropolitan Transportation Authority.

The permanent railyard, instead of having nine tracks with capacity for 76 cars, will have seven tracks with capacity for 56 cars. While there would be several improvements, the new railyard would be valued at $147 million, while the MTA's Gary Dellaverson in 2009 said the previous iteration could be worth $250 million, after inflation.

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