Tuesday, January 12, 2010
Why are we funding a privately-owned skyscraper?
From The Real Deal:
The Related Companies...restarted construction in the fall on a long-delayed skyscraper at 440 West 42nd Street, which includes a Frank Gehry-designed theater, a hotel and 800 apartments -- a mix of market-rate rentals, affordable units and condos.
The deal was made possible with the help of $25 million from the city for the theater and a citywide agreement between developers and more than 40 labor unions to trim construction costs up to 20 percent. The project had been on hold for months amid the downturn and limited financing.
Why are we taxpayers giving a $25M gift to Related Companies for the services of an overpriced architect at this time? And they call low-income people on public assistance programs "welfare queens"...