The New York Times on 7/29/19 published Emily Badger's How ‘Developer’ Became Such a Dirty Word , subtitled "It’s a demonized group, yet there are few solutions for the housing shortage that don’t at least partly involve more development." That's true, and it's also true that time tends to buff the development examples of the past in our memory--consider the adulation toward Rockefeller Center, which during its time, as author Daniel Okrent described , was the product of political clout and public relations wizardry. But the latter tactics are part of why developers today provoke significant skepticism, a theme largely absent from the article--though not the comments. but seriously, the question is not "are all developers bad?" It is "who benefits?" and "who controls the process? — Oksana (@OksanaMironov) July 29, 2019 Most important, developers don't get paid until project is finished & sold/leased. In some metros, th...
This watchdog blog, by journalist Norman Oder, concerns the $6B project to build the Barclays Center arena & 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 USA bought a 70% stake going forward. In 2018, once the arena & four towers were built, Greenland bought out most of Forest City's stake, then sold three leases to other companies.