Is The Business of Jay-Z Bad For Brooklyn?

June 9th, 2010 - By TheEditor

"jay-z"by R. Asmerom

Every good story needs a well rendered setting.  For the narrative charting his rise, the one Jay-Z’s been burnishing since his 1996 debut, this is Brooklyn. He may have  deserted it for Manhattan, a place more suited to his appetite for luxury and glamour, but the frequency with which he continues to invoke the culture, lessons and aesthetics of the borough, portray a man unwilling to relinquish his status as its chief emissary.

So it made sense that when real estate tycoon and then-majority owner of the New Jersey Nets Bruce Ratner was drumming up support for Atlantic Yards, a $4.9 billion development project (to include the Barclay’s sports center) in the heart of Brooklyn, he had a sit-down with Mr. Carter.

The opportunity to not only be part of bringing professional sports back to

Brooklyn, but also cement his place in its textbook history, proved too tantalizing an offer to turn down.  With an estimated stake of 1-1.5%, Jay-Z does not enjoy decision-making power, but the bragging rights are unparalleled, especially when Lebron James may potentially enter the equation.

On March 11, 2010 Atlantic Yards held its groundbreaking ceremony.  Along with a fist pump, Jay-Z brought his comments to a close by saying “We did it again Brooklyn, shout out to B.I.G.”  For many residents, however, his power move is anything but pro-Brooklyn. To make room for Barclay’s Center, the arena that would be home to the Nets, as well as the other commercial and residential space, Brooklynites have already been displaced.

“The number one concern about the project is that it is a corrupt, undemocratic project,” said Daniel Goldstein, the founder and former spokesman for Develop Don’t Destroy Brooklyn. Goldstein spoke to The Atlanta Post the week before he reached an agreement with Bruce Ratner’s development company, Forest City Ratner, to sell his condominium (seized under eminent domain) and step down as spokesman for the anti-Atlantic Yards group.  “It is the largest project in the history of Brooklyn that never underwent a single vote by a single elected official,” he said, referring to the fact that the majority of the 49 officeholders representing Brooklyn oppose the project.

Since Ratner purchased the New Jersey Nets in 2004, he’s been trying to move the team to Brooklyn, an effort many regard as nothing more than a plot to acquire prime real estate.

After years of litigation Ratner was successful in securing land rights to a large area near downtown when New York state rallied to his cause.  Citing the project’s public benefit, the state not only exercised eminent domain on Ratner’s behalf, allowing him to purchase the rail yards occupying a portion of the site at below-market price, but also kicked in millions of dollars in subsidies.  “It’s not about basketball,” said Goldstein. “It’s not about affordable housing. It’s not about removing the so-called blight. It’s not about any of that. It’s Forest City Ratner gaining 22 acres in the heart of Brooklyn.”

The controversy surrounding the use of eminent domain not only stems from the fact that it nullified public participation, but that it was approved by the State Supreme Court on the grounds that the area was “blighted,” which as anyone familiar with the locale knows, is far from the truth.

With the help of a consulting firm and the support of then-Governor George

Pataki, Mayor Michael Bloomberg and Brooklyn Borough President Marty Markowitz, Ratner was able to circumvent public approval, turn a deaf ear to outraged private property owners and obtain the coveted swath of land.

“Forest City Ratner is perhaps the most powerful developer in New York State,” said Goldstein. “It is the largest publicly traded development company in the country, and we have a mayor who is now on his third term, whose hallmark way of doing development in the city is through mega projects.”

Madame Noire Video

Comment Disclaimer

Comments that contain profane or derogatory language, video links or exceed 200 words will require approval by a moderator before appearing in the comment section. XOXO-MN

  • stunningdude

    the stadium does benefit the borough of Brooklyn. It will bring in more jobs, which increase demand, which raise prices therefore putting more of the wealthy in the stadiums area and move the poor. If somehow, the poor owned houses near there they wouldnt sell, but in NY no one own houses….

  • Michelle donaldson

    I USED TO LOVE JAY-Z TIL MY EYES WERE OPEN,NOW I TURN MY BACK TO HIM AND HIS OTHER DEMONS SMH!

  • WOW

    I wish him the best…when you sell your soul to a dark force that 95 percent of the world don't know about then i wish him all the success in the world…DO YOU JAY!!! GET THAT FAKE MONEY WHILE IT'S HERE CAUSE ACCORDING TO THE ANDROMEDANS YOUR PEOPLES…(AND U KNOW WHAT I MEAN WHEN I SAY YOUR PEOPLES)…DON'T HAVE TO MUCH TIME…SO ENJOY!!!!

  • theresa

    he's speaking as an uninformed fan of this overrated hack. the saddest thing is that people like him are probably the ones that will be hurt most by this development, but they're too ignorant to realize it until it's too late.

  • Pingback: Around the Web — American Apparel’s Bigotry, LeBron James Mixtape + More - ILookFly.com

  • Pingback: Inqmnd Blog – Over the Pond | June 11th ‘10 (Video)

  • http://marcychronicles.com mArCy

    That area was predominantly Hispanic and Black until the rich people moved in and turned it to Yuppiville… So I say was good for the goose is good for the well u know the rest.

  • Love

    I live in Bedstuy so I know what the community needs. Downtown BK is way to CONGESTED for a stadium. And I still can't wrap my brain around how these land grabs are able to take place. Downtown BK is not dilapidated. It's a mixed neighborhood that boasts high rents. This is mind boggling. I'm sorry buy Jay Z, where is your integrity? If something isn't right for a whole group of people (those who were forced to move) why not look for another business venture? As someone mentioned before, BK needs more community centers, not a stadium.

    • BUT REALLY

      Yea. Plus this new study has some interesting results about whether or not stadiums help an urban area.

      "In every case, the conclusions are the same. A new sports facility has an extremely small (perhaps even negative) effect on overall economic activity and employment. No recent facility appears to have earned anything approaching a reasonable return on investment. (p. 249)"

      http://contexts.org/socimages/2010/06/15/new-spor

  • but really

    PS) And as for the affordable housing, please recall that of the several high rise apartment buildings, only a third of the units will be reserved as moderate to low-income rentals. The rest will go at market rate aka hello even more Manhattanites-moving-to-fancy-condos-in-Brooklyn.

  • Teas

    I'm all for building a community however when it forces residents out of their homes and is against what the neighborhood wants…then all bets should be off…Brooklyn is big enough to find other suitable locations in the borough, where it will indeed help the community, build the neighborhood and better the people. I don't know I would love to believe that this would help the people and the community but I know better…not everything is what it seems!!

  • beef ledger

    thats a damn lie…atlantic terminal is the projects right there in that area…who's middle class and wealthy in that housing developement

    • but really

      I live 15 blocks away from this place. It's surrounded by a mix of neighborhoods. Yes there's upper middle class, white Park Slope and Fort Greene, but Prospect Heights itself has many carribean families. More importantly it's a foolish place for a stadium because the traffic jams near Atlantic Terminal are already a nightmare, and they are putting in parking spaces for people to *drive* in from Jersey.

      And @Beef Ledger, I agree. Target and DSW Shoes will be replaced with a Whole Foods and Crate and Barrel. And it might be a marker of economic development to see that mall remodeled, but the "job creation" and "affordable housing" angles that they are trying to sell are complete garbage. This could have been built somewhere else and it would have given the same benefits, like Coney or even the abandoned-for-decades navy yards even. Trying to imagine that many buildings on such a relatively small parcel of land is kind of shocking, and I get sad about what's going to happen to the area.

      In the meantime, we in the surrounding neighborhoods get to deal with a rodent plague from the digging and construction. Thanks Bruce!

  • 106

    I want to know how this will hurt Brooklyn? A Stadium with a successful team has to bring profits to the immediate area. People go out to eat after games they spend money.

    • Emm

      This is a gross misuse of eminent domain. This land isn't being taken for the greater benefit of all but for the improvement of the lives of a few men.

      People will have to pay big bucks to see one of the games there. Eminent domain is supposed to be for things like libraries, museums, parks etc. NOT sport facilities that charge as much for a ticket as a weeks groceries for one person!

      Why displace residents that spend money IN their neighborhoods for money of a different color??

      THIS IS WHY BLOOMBERG SHOULD HAVE BEEN VOTED OUT OF OFFICE & NEVER ALLOWED TO GET RID OF TERM LIMITS!!!

  • SaveIt

    You sound like an idiot and you obviously live nowhere near NYC much less Brooklyn. All you know is what Jay-Z tells you in his songs. Jay could care less about BK outside of this project, his image or his last interview with Oprah.

    And many blacks ALREADY own in BedStuy and Fort Greene. Again just goes to show what the hell you THINK you know. And trust me there is a HUGE difference in the boroughs. People from any of them take major pride in them so saying there's no difference between Manhattan and Bklyn is just stupid. Shut up and go back to whatever bridge and tunnel suburb you're really from…UGH!

  • SaveIt

    The development that has come to Harlem has displaced and priced out many African American who've lived there for years so for Kysh to say that Jay-Z is trying to do for Brooklyn what was done for Harlem is very very very flawed. If you are even from Brooklyn or even remotely familiar with the neighborhood you would know that is is anything but "blighted" or in need of "rescue".

    Using imminent domain for private projects and then also railroading an entire borough into a project that the majority of its residents oppose is simply wrong. Don't let being a fan of Jay's blind you into buying the propaganda. This all boils down to one thing and one thing only…MONEY.

    Anyone that even know this area or commutes through it knows that its already EXTREMELY congested. Atlantic Ave is already traffic ridden EVEN ON THE WEEKENDS.

    As someone is born, raised and still lives in Brooklyn the only thing that is going to be a blight is this project. Its not going to bring any sustainable jobs, its not going to bring low cost housing, its only going to put more money in the pockets of those who are already wealthy.

    JayZ, Al Sharpton, et al should all be ASHAMED of themselves.

  • shameika

    if Jay-Z loves Brooklyn so much, than why haven't he and his wife taken residence here? He has not lived in Brooklyn since he left. If he truly cares about growing Brooklyn into this great borough, then he should be a resident here. Don't just cross the bridge to collect a paycheck. He has no excuse, they could live in a luxury condo in Brooklyn or a Brownstone.

  • LONGISLANDER

    Even though I would love to see progress in Brooklyn, we can't do it at all cost. It should be up to the people of Brooklyn to have say so in whatever needs to be developed. I don't agree with forcing people to move out of homes they've had for years, especially by imminent domain. I believe those home owners should be given an incentive but not forced to move.