Is a Billion Dollar Development Project at the Heart of Bridgegate?
If you’ve seen Fort Lee Mayor Mark Sokolich mention a “billion dollar redevelopment” going on in his town during his media appearances, you might think that he’s just bragging about some political accomplishment. Something he cares about, but that you don’t need to worry about. Yet those two pieces of land are where that billion dollar project, a commercial, residential and business complex called “Hudson Lights,” is being built.
Now consider the project’s proximity to the bridge. When we think about transportation infrastructure, we usually think only about the ‘thing’ being built: the bridge, tunnel, rail line, road, etc. But those projects have value because they connect things. They’re built because they allow people and goods to move, and they can dramatically increase the utility and value of the properties they connect. The Erie Canal did this in the early republic. Then the railroad. Then the subway, the highway, the airport.
The Hudson Lights project is a billion dollar project because it offers unparalleled access to the George Washington Bridge. But take away that access and it’s no longer a billion dollar project.
Mark Sokolich knew this back in September when the toll lanes from Fort Lee had been cut from three down to one. He asked Port Authority Deputy Executive Director Bill Baroni on September 12: “what do I do when our billion dollar development is put on line at the end of next year?”
http://talkingpointsmemo.com/cafe/is-a-billion-dollar-development-project-at-the-heart-of-bridgegate
= new reply since forum marked as read
The writer is very good. He writes clearly and logically, making this issue easy to understand. I also like how he expresses the perspective his academic background has given him. For example, he makes the point that these huge, expensive projects like canals, bridges, etc., seem inevitable but in truth, they are not. There is always some large piece of the project that needs to fall in place.
And so, therefore, that makes this one of his most interesting statements:
We now know that a major redevelopment project, one that depends on Port Authority assets and relationships, was put in jeopardy at a vulnerable financial moment, and in a way that put the viability of the entire project at risk.
The professor has pinpointed it: the vulnerable moment of financing. This is what the shutdown was about.
Murphy says we still don't know why. I don't think that's any big mystery--we will find out that it's because the Democrats control that area and it's their cronies who are going to get the financing and contracts. Christie and the republics were shut out. This was his way of telling them he and his group had to be cut in.
If you'd like to read a little more about this writer and his credentials, here is his web page at Baruch:
http://www.baruch.cuny.edu/wsas/academics/history/bmurphy.htm
Cher
