Gary Barnett's Extell Development Corporation (with their backers, the Carlyle Group) are in the middle of a major push to develop two whole blocks of prime land adjacent to the Hudson River. It is the last major undeveloped portion of the Riverside South tract. They call their development Riverside Center. While the design has some attractive aspects, it violates basic tenets adhered to by City Planning and the terms of the agreement with the community that is legally attached to the land.
Before New York officials cave in to the pressure that Extell must be exerting on them to break the rules and let Extell build the development as proposed, wouldn't it be wise to consider what kind of developer Extell is? How have their other developments worked out? Do they play by the rules, or do they throw money around to persuade officials to violate them for the benefit of Extell and its investors?
An amazing article appeared a couple days ago that reveals that HUD is probing Extell's handling of one of their other buildings on the RIverside South site, the Rushmore.
(Pictured above are AG Andrew Cuomo, HUD Sec'y Donovan, and the Rushmore.)
Here is the opening of the article:
The U.S. Department of Housing and Urban Development has launched an investigation into the Rushmore condominium, amid allegations that the lawyers for the developer, Extell Development, held previously undisclosed meetings with state Attorney General Andrew Cuomo's office to prevent existing buyers from backing out of their apartment contracts.
Please read the whole article. Before you make any decisions permitting Extell to start a new development that, even from the beginning, violates many agreements and principles, please, NYC officials, consider the whole picture!
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