Forest City's rep on Rent Guidelines Board suggests tactics to help struggling tenants while not burdening landlords
When in March 2015 Forest City Ratner executive Scott Walsh was appointed by Mayor Bill de Blasio an owner representative to the Rent Guidelines Board (RGB), I noted that, given that the affordable housing in Atlantic Yards/Pacific Park will be subject to rent-stabilization increases, Greenland Forest City Partners surely has an interest in steady increases in annual rents. I also noted that de Blasio might believe that an industry representative with close ties might be more amenable to negotiation and, at least, cordial talk. Well, Walsh has been cordial, on the losing side opposing the rent freeze de Blasio achieved, and he has proposed other tactics--such as new city/state subsidies--that might assist struggling New Yorkers while not burdening landlords. Such proposals surely will recur in future negotiations; after all, they could make a difference to the bottom line of the Pacific Park joint venture. As I've noted , Atlantic Yards/Pacific Park units are bi...