 To give you a little background, Four City Ratner Company is a Brooklyn-based development company. We are born and bred in Brooklyn. The company started back in 1980s when Bruce Ratner won the RFP to create large-scale office, back office really, for the city when the city was losing all of the jobs in New Jersey because New Jersey was offering such a cheap alternative to offices. So we built the Metro Tech campus which is a really large floor plate, back office for Chase, combination of city agencies and that was sort of a development, master plan development that was of its day of 1980, large campus with a central courtyard. What happened was that as we were building out Metro Tech we built the last site after 9-11 actually because one of the tenants that had to literally find a new headquarter location immediately and we negotiated 300,000 square foot anchor tenant lease and built that the last component and during that time we're also working with BAM, Cultural District, the city, also trying to figure out how do you activate BAM because there are multiple sites with near BAM that the city owned, HPD owned that were under zone and as a larger play when Harvey and Jeannie Leffey initially started the BAM Development Corporation it was that little bit of swath that you were discussing around essentially Lafayette to Fulton Street. The city took a little bit of a back like a larger perspective and looked at well how do we create additional development in Brooklyn in the right places which really is along the arterial corridor of Flatbush starting from essentially Tellery Street all the way out to Atlantic Avenue and they looked at the comprehensive development opportunity because there are a lot of soft sites along that corridor. That's where all the transit was where what city was trying to really invest in terms of public scape all of that. So in 2004 downtown Brooklyn did a comprehensive mixed use zoning where you could actually take sites that were roughly I would say 2.3 to 3FAR and increase the density up to 12FAR and their intention was create a mixed use where it would be a combination of office and residential it was a C54 I think that was rezoned to but what happened was that after they went through the ULURP got it approved a couple of projects started closer to Tellery where the land was a little bit cheaper because it's all about the land right because these are all private transactions and then the economic crisis it nothing happened right and so a lot of the things that got started pre-2008 some of it got built developers were settled with some condors they could sell they started renting them at city point sort of ground to a halt a lot of the developments that actually started construction with the 421 a larger scale projects they were stalled so then after 2008 things started softening up a bit developers were able to get financing and the residential market which actually in New York we didn't suffer as much as other parts of the country what happened was basically transactions stopped but your value really didn't go down that much it was relatively flat and then into 2010 2011 constructions restarted you were able to get financing and Brooklyn rental prices started skyrocketing so you went from an average price per square foot for a market rate 24-hour doorman building with views near transit that was probably renting around 55 bucks a square foot the rent started inching up closer to 60 bucks a square foot so that then drove the land prices higher so what happened was that the about 15 million square feet that was supposed to be mixed use it all became residential because that was the highest and highest and best use so I think part of that response when the Brooklyn and the city realized the impact of what was happening because the economic nature of what was going on in the city it was really residential that was driving it the office rents it was interesting because Brooklyn office was very innovative innovative and creative economy it was purely located there because it was cheap rent it's as simple as that right it was Dumbo Industry City actually happened after 2014 to large extent and so these sort of fringe locations was like cheap rents where they could start their businesses and what happened was that once they were they were in buildings with that life safety no air conditioner and they grew up and you know all of these IPOs and larger growth their company they had to hire like a proper CEO and the board say hey guys you actually need to move to a building with sprinkler systems right you can actually like exit your tenants so what we saw in Metro Tech was the back office tenancy and the city tenancy actually evolve so we started getting tenants like Tough Mudder there's actually a education-based company that went public and their board told them you need to be in your grown-up space so what's happening with the Brooklyn Triangle is sort of trying to capture that and trying to figure out what how can we create a connection between Navy are between Dumbo Industry City to Metro Tech to create that next generation but office buildings really you can't underwrite and build a new office building until there is six dollars six in front of the rent in terms of being able to justify a new building so there's one new building that I think will get built hopefully right near downtown Brooklyn and as part of Atlantic Yards now renamed Pacific Park we pivoted so everyone hopefully knows about Pacific Park is no longer Atlantic Yards one of the things that we're looking at is of the of roughly five million square feet that we can develop we're turning we're trying to figure out doesn't make sense to actually take two of the buildings at the corner of Atlantic and Flatbush and turn those large-scale development pads in from residential to office so it would be the first opportunity where you could actually create a half a million square foot headquarter opportunity for companies that are now looking for new space grown-up space not converted space grown-up space in Brooklyn because you know CEOs of those companies now live in Brooklyn their workers work in Brooklyn no one's to come to Manhattan the food seems much better in Brooklyn so all those you know all of those things your nightlife is in Brooklyn so all those things have now changed and evolved for the past 14 years to really leverage that I mean I actually when I started a forest city after graduating from the program we're trying to convince tenants actually come over the bridge right and I remember maybe it was like 2002 time I had a cover which says Brooklyn's a new Manhattan right and then about four years later it was the opposite is Manhattan the new Brooklyn and the the heads of companies would used to get into their box cars drive across the bridge come out walk around Metro Tech get in the car and leave they had no interest in being in Brooklyn what what's changed that people now live in Brooklyn they want to be there and the type of companies that are growing in the city are now they want to be in Brooklyn that's really different and I would say the same thing for BAM because I remember in the early days of BAM it where it was the Opera House and Harvey Theatre there were these large buses that would truck people in from the city right and the Brooklyn residents really were not that engaged with them and BAM has done a tremendous job of working with local arts organization to fold them into part of their cultural district so it's a lot of this is very organic in the way it happens