A sports economist hired by Northlands thinks private developers should pay for overruns, and he's offering this advice to council:With Atlantic Yards, his report, commissioned by Forest City Ratner, was used to help justify $100 million in direct city subsidies--and then, after the project was approved, those subsidies were doubled (and later shaved back somewhat to an official, if contestable, $179 million).
"Once it's approved at the Spartan level, they start to say, 'oh we'd like to have this next to the locker room' and we'd like these bells and whistles. You've got to be deliberate, you've got to be cautious and you've got to be strong in bargaining in a deal that's good for the City of Edmonton," said Dr. Andrew Zimbalist.
This watchdog blog, by journalist Norman Oder, offers analysis, commentary, and reportage about the $4.9B project to build the Barclays Center arena and 15-16 towers at a crucial site in Brooklyn. Dubbed Atlantic Yards by developer Forest City Ratner in 2003, it was rebranded Pacific Park Brooklyn in 2014 after the Chinese government-owned Greenland Group bought a 70% stake going forward. As of 2018, after the arena and four towers were built, Greenland will own 95% of future construction.