Mr. Reed’s work, unlike that in many developing areas in the city, has not drawn much criticism, perhaps because, unlike in Williamsburg, Brooklyn, or the South Bronx, there were few residents or businesses to be pushed out in Downtown Brooklyn. As for those nearby, Mr. Reed said the partnership “worked really hard to invite the surrounding neighborhoods in, so they would have a sense of ownership of the changes that were coming.”Oh, sure. The voice of the business community was not always right.
“I like to think of things in leveraged returns,” Mr. Reed, 36, said recently at his office in the MetroTech Center. Since 2004, “the city invested $400 million in infrastructure and coupled that with a host of new policies,” he added. “And the market responded with close to $12 billion in new investment and development. Not too shabby.”And has anyone assessed the balance between private and public benefit? How much affordable housing was required in that Downtown Brooklyn rezoning?