bridge overhead
Luna Schlosser: Oh, I see. You don't believe in science, and you also don't believe that political systems work, and you don't believe in God, huh?
Miles Monroe: Right.
Luna Schlosser: So then, what do you believe in?
Miles Monroe: Sex and death - two things that come once in a lifetime... but at least after death, you're not nauseous.
Woody Allen, Sleeper, 1973

Friday, May 9, 2008 at 7:59 am

Collapse of complex real estate projects

In keeping with the previous post (two in one day!), I also see that yet again the large, complex Hudson Yards development has fallen through. This follows the collapse of the Penn Station project and the massive slowdown at Atlantic Yards. Certainly, this has much to do with the declining economy, but I wonder how much of it has to do with the increasing complexity of arrangements among an ever-wider number of actors involved in these contemporary mega-projects. Does their complexity make them less stable than earlier mega-projects?

1 Comment »

  1. I don’t think Moynihan Station is dead at all, although progress has certainly slowed down as the partnerships change. And Hudson Yards is likely to come back as well. Large projects take time to imagine, re-imagine, design, and construct. The most powerful images don’t seem to die, though. Although a lot of people bought into Robert Caro’s ridiculous claim that Robert Moses dreamed up decking Riverside Park over the railroad tracks and adding the West Side Highway, concepts and drawings had been floated for decades. And then there’s the Second Avenue Subway!

    Comment by Jay — Monday, May 12, 2008 @ 7:25 pm

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