People
BY DEBORAH KOLBEN
DAILY NEWS WRITER
Thursday, March 3rd, 2005
New York Daily News
A rival developer is plowing ahead with plans for a hotel in the center
of Bruce Ratner's $2.5 billion Atlantic Yards project just as Ratner's
pace seems to be slowing.
Developer Shaya Boymelgreen is trying to convert a former bread factory
at 800 Pacific St. into a 150- to 200-room hotel.
"We're having preliminary conversations with various hotel operators,"
Boymelgreen spokesman Will Kim told the Daily News.
Down the street, Boymelgreen also is working with developer Henry
Weinstein to convert an 85,000-square-foot building and a neighboring
vacant lot into office and residential space.
Both buildings are planned for the spot where Ratner wants to build 17
residential and commercial towers and a 19,000-seat NBA arena for the
New Jersey Nets.
Ratner's plans cover a 21-acre site - including the Long Island Rail
Road yards. Although he has bought up a good chunk of the area's condos
and co-ops, he would still rely on the government's power of eminent
domain to condemn some private land for his development.
A spokesman for Ratner declined to comment.
"I hope the city government realizes that this is not a desolate area,"
said Weinstein, who owns 750 Pacific St. and plans to develop it with
Boymelgreen.
Ratner bought the New Jersey Nets for $300 million last year and plans
to move the team to the new arena.
But a Brooklyn tipoff might have to wait.
"What I always say is we're hoping for 2007-2008 - the more likelihood
is 2008-2009," Ratner said this week.
Shovels are expected to be in the ground by 2006.
But the developer is still waiting for approvals from both the city and
state.
"We've accomplished a tremendous amount in a short period of time,"
said Joe DePlasco, a spokesman for Ratner.
Ratner has vowed to commit half of the 4,500 rental units and 375
condos in his plans to affordable housing.
Opponents of the plans aren't surprised by the delay.
"It doesn't surprise me," said Patti Hagan, a spokeswoman for Prospect
Heights Action Coalition.
"He doesn't have a memorandum of understanding, and he doesn't the
right to develop over the rail yards."
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