Monday, May 19, 2008

Schumer pushing development projects

Schumer has his work cut out for him. His call to get busy building comes as the industry is coping with fewer financing options, due in large part to the credit crunch that has gripped Wall Street following the collapse of the housing market.

In an interview last week, the senator pointed to his long involvement not just in New York City projects, but in the mega-shopping mall near Syracuse called Destiny, the Peace Bridge in Buffalo, and Renaissance Square in Rochester. None of those has actually been completed.

``I would be involved in these issues no matter what the situation was,'' Schumer said. ``As a senator, you have some leverage because federal money is also part of it but you're also not caught up in the minute-to-minute, day-to-day problems.''


Schumer Seeks Greater Voice in Development Projects

Why is federal money involved in a megamall?

2 comments:

Anonymous said...

Big plans and little $$$$$
is going to eventually sink that
bloated real estate boat!

Liman said...

Why is federal money involved Crappy? Because there are special interests (developers, construction companies, and most of all the voracious building trades unions) who want to get their beaks wet. And who does our senior senator rely on for campaign moolah? Uhh, private citizens who think he's doing a great job? Guess again.