Toxic mold is back. The Appellate Division, First Department, held this week in Cornell v. 360 W. 51st St. that scientific arguments could be presented for mold-induced health problems. The court held that prior decisions dismissing mold cases for relying on junk science didn’t preclude new arguments or expert testimony.
The Economic Development Corporation has issued a Request for Expressions of Interest to develop 46 acres on Staten Island suitable for residential uses, with some rehab of historic buildings possible. Past efforts to sell the site exclusively for educational projects stumbled. Now the city is willing to see what the market will do.
In case you missed it, a Wall Street Journal blog post had a good overview of the legal issues in the constitutional challenge to rent control by upper West Side property owner James Harmon. First, of course, the Supreme Court has to decide whether to hear the merits at all.
It was a good news, bad news forecast from the city’s independent budget office this week. The IBO expects the city to gain 22,000 net jobs in 2012, but lose 4800 more jobs on Wall Street that, of course, are the best paying jobs that help drive the economy in general and housing in particular.
Join us for an ABO luncheon with James Nelson of Massey Knakal, March 21st. Invitations are in the mail.