X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Certain projects that provide affordable housing to residents here are in the best interest of the city and require the need for eminent domain, said Bill de Blasio, New York City’s public advocate, speaking at a breakfast put on by non-profit association ABNY. He specifically pointed to the controversial mixed-use Atlantic Yards project in Brooklyn being built by developer Bruce Ratner, which bought out a number of residences and building in the area and was the center of a contentious legal battle.

“I do think there’s a place for eminent domain,” de Blasio said, explaining that he is a “pro development progressive.” “When appropriate you do maximize height and density to maximize affordable housing.”

The advocate was less pleased about the closing of St. Vincent’s hospital in the West Village, and he blamed the state government for not acting to stop the act. “I’m convinced this failure didn’t need to occur,” he said.

De Blasio is also interested in building a cross-harbor tunnel for rail and freight traffic, a move he said would greatly cut down on truck traffic in Manhattan. “That’s something we should commit ourselves to not matter how difficult it may be to achieve,” he said.

Also touched on was Wall Street and how public officials should react when investment banks are accused of wrongdoing. De Blasio said instead of punishing firms with taxes and fines, government needs to push for more widespread reform.

Additionally, he said the $105 billion held by the city’s five pension funds should make more investments.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Multifamily Spring 2022 (Formerly APTS)Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.