DDDB $120M MTA Offer Challenges Forest City Ratner

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Uploaded by on Jun 24, 2009

At a board meeting of the Metropolitan Transportation Authority on June 24, 2009, Daniel Goldstein of Develop Don't Destroy Brooklyn offered the MTA $120 million for development rights over the eight-acre Vanderbilt rail yard, compared with an initial $20 million pledged by Atlantic Yards developer Forest City Ratner and delayed payout over 21 years. DDDB claims its community-driven UNITY Trust plan would deliver true public benefits in a shorter period than would FCR (whose original proposal has largely evaporated), based on competitive bidding by multiple developers. More info: www.dddb.net.

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