A number of real estate executives have come out today in support of Mayor Bill de Blasio‘s plan to tax high-earners to fund universal prekindergarten and after-school programs, representing the latest group of executives to join a grassroots campaign called UPKNYC, Commercial Observer has learned.
Developers of the City Point project in Brooklyn want to set the record straight following a unionized protest and a fiery letter from the president of the Building & Construction Trades Council of New York claiming that the project exploits the community and burns taxpayer dollars.
In addition, some industry experts agree that less union work is simply a wave of the future that began decades ago.
While a spokesperson for developer Acadia Realty Trust expressed reluctance to get into a full-on spat over the issue, he defended his firm’s stance on the project, countering critics who said the project abuses taxpayer dollars. He claimed that the project benefits from a single government subsidy — and that it is essential for the affordable housing component.
“City Point will generate thousands of jobs and enhance Downtown Brooklyn’s quality of life,” said Tom Montvel-Cohen, with Acadia Realty Trust. “We are committed to maximizing local and minority contracting and employment as we create a LEED-certified development with the affordable housing, retail and entertainment options that the neighborhood well deserves.”