The article discusses the complexities developers face when purchasing properties for redevelopment, using Gary Barnett and Al Laboz as examples. It highlights the case of Block 780, a site the Cuomo administration eyed for a new train terminal. Despite plans, the project has stalled under Governor Hochul, who abandoned the previous administration's ambitions due to high costs and time constraints. This reflects broader issues at Penn Station, where new projects struggle against reality, leaving property owners in limbo but hopeful for future opportunities.
Acquiring the block's commercial buildings would cost north of $1 billion and require the use or at least the threat of eminent domain. That would take years, and Hochul couldn't wait that long.
The idea was to write a David-versus-Goliath feature about old-school building owners battling a powerful governor. I should have known better.
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