Friday, April 24, 2009

Columbia Spectator: New Housing Rises in Park West Village

[with annotations by Sue Susman]

City Housing |

New housing rises in Park West Village

“I wake up every morning to this,” said Marion Billings, a resident of newly constructed properties comprising the Columbus Village development, which began in the fall of 2006.

Interspersed among seven older buildings comprising Park West Village, the new development rising from 97th to 100th Streets between Columbus Avenue and Amsterdam Avenue, introduces market-rent housing, big-box retail, and constant construction to this three-block region. With new apartments weeks away from opening to prospective renters at market rate, uncertainty looms over the fate of this housing in the context of a deepening recession.

“Park West Village is a wonderful place to live,” Trudy Oothout, a resident of the area for 44 years, said. “Open space and air—before,” she said, looking at 808 Columbus Avenue towering over her 20-story residence. “Now—who knows?”

A complicated history

Park West Village was created as part of the city’s government-subsidized urban redevelopment plan in the 1950s. Middle-income tenants could seek apartments at an affordable rent with the draw of fresh air, greenery, and sunlight. The design made available open spaces, courtyards, and playgrounds within a dense city neighborhood.

As part of his massive urban revisioning project in 1952, Robert Moses, then the city construction coordinator and chairman of the Committee on Slum Clearance, tore down 4,212 “slum” apartments from the area between Central Park West and Amsterdam Avenue, from 97th to 100th Streets—a neighborhood then called Manhattantown. Moses replaced these older apartments with 2,662 new apartments, according to his book Public Works: A Dangerous Trade, published in 1970. In 1957, the city foreclosed Manhattantown properties and sold the land to Webb & Knapp, Inc..

The complex stands today as seven red-brick slab towers, redesigned and now called Park West Village. To ensure protection of this affordable housing, the City Planning Commission and Board of Estimate made a contractual agreement with Webb and Knapp, Inc. that there would be no “change in the project” for 40 years.

The housing market in this area faced tangible changes in 1987, when two Park West Village buildings—372 and 382 Central Park West—left behind their rent-stabilized status and were converted to condominiums under the ownership of Harry Helmsley. The Park West Village Tenants’ Association, State Attorney General, and the Board of Estimate argued that this breached the “change in the project” contract, but lost the case in court. In 1991, 392 and 400 followed their neighbors and converted to condos.

Residents of the converted condos who had been living in rent-stabilized homes maintained their rents. With mixed condos and rentals, some at market-rate and others stabilized for decades, Park West Village remains one of the city’s most controversial urban renewal projects, fostering a diverse Upper West Side population.

Development during recession

In 2007, Joseph Chetrit of the Chetrit Group and Lawrence Gluck of Stellar Management­ — the team who inherited the property seven years prior [Chetrit & Gluck bought the 7 buildings and extensive grounds for about $125 million while paying roughly $31 million for the 247-unit Central Park Gardens on the side side of 97th St. in 2005.] — announced plans to add five new buildings to the complex to be called Columbus Village. The first building to start construction was 808 Columbus Avenue, which, at 30 stories, will house 359 rental apartments and more than three retailers, including Whole Foods. The other four buildings, in various stages of creation, are 775 Columbus Avenue, with 12 stories and 56 apartments, 795 Columbus Ave, with 15 stories and 132 apartments, 805 Columbus Ave, with 14 stories and 63 apartments, and 801 Amsterdam Ave, with 15 stories and 100 apartments.

New tenants are expected to start renting in the coming weeks, with the goal of moving in by Memorial Day, Peter Rosenberg construction and development project manager, said. Though Rosenberg declined to comment on specific prices, he said that rents would be at market-rate, in the same range as other recent neighborhood developments.

Despite the recession, Rosenberg said, “There is still a market for this product. I think it is a terrific neighborhood. People want to live on the Upper West Side, they want to be close to Central Park, and I think the apartments in this building are coming out great and people will want to rent them, maybe not at the same rents that they rented them at in 2007. So I think it will command a good rent, and I think it will be a good product.”

The new buildings differ from the existing seven in color, height, and façade. Although they were originally scheduled to finish in 2008, they are still under construction—which means noise, dust, and drilling are currently a central component of life in the neighborhood.

Dean Heitner, legal committee chair of the Park West Village Tenants Association, said he expects the current economy to effect the building management’s goals. “After the first four buildings were converted, there was the economic downturn, so the other three never happened,” said Heitner, who is a resident of 784 Central Park West. “At this point, I don’t think it would make sense for them to convert those buildings [on Columbus Ave].”

[Talking about the fact that the building on the southeast corner of 97th Street is at an apparent standstill at about 2 stories of metal skeleton - as a result of funding problems, the firing of the original main contractor, and an effort to go with non-union labor] “There’s a fine line,” said Albina de Meio, PWVTA Quality of Life Committee chair and resident of 788 Central Park West. “The construction is bad, but a building skeleton would have been even more terrible.”

Rosenberg said financial issues will not lead to any major halts in the construction. [See above for "minor" halt] “Fortunately, this was always conceived as a rental property, it has always been rental housing, so it has a lot more flexibility than if it were a condominium. The rents will move with the market in the future, and we think it’s still a good and viable project, and we are going to pursue it through until the end.”

The PWVTA in action

[The Coalition to Preserve West Park North - including the PWVTA, representatives of non-Park West Village buildings around the neighborhood, of churges and other other groups - demonstrated, lobbied the mayor, his aides and the City Planning Commission, and impelled our elected officials to form a group to stand up for our interest - unsuccessfully - in seeing and modifying the plans. Then the Westsiders for Public Participation sued in an ongoing case to require an environmental impact statement, among other things.]

With building development near completion, the PWVTA remains active in the discussion. The PWVTA has long combated infringements on tenant rights in both rentals and condos. Its focus has been fighting unjust evictions and improper rent overcharges, as well as raising concerns over the disruption of construction.

And though deregulation is not as much of a pressing issue at Park West Village as in other area buildings, rents may increase through a proposed major capital improvement, which can be granted to a landlord in installations for the “operation, preservation and maintenance of the building,” according to the State Division of Housing and Community Renewal.

Some residents expressed frustration over the use of MCI, which they see as a sign of larger changes. “In my building, the increase per room is $5.04 for these lobby renovations,” de Meio said. “It’s the second time they’ve redone the lobbies to make them more appealing for market-rent tenants.”

When rent-regulated apartments are vacated, it is common for the Park West Village management to renovate the apartment, deregulate the rent, and resell it at more than $2,000 per month. Further, if a tenant’s income exceeds $175,000 for two years, the legal rent can be increased to $2,000 per month.

“In the rental buildings, whenever someone moves out, they invest in new floors, new carpeting, everything,” said Win Armstrong, a longtime PWVTA member and resident of 400. “Ownership usually spends 40 to 60 thousand in renovations, keeps one-fortieth of what they spent, plus get 20 percent in turnovers. This procedure will continue, though whether they will be able to charge the rents they anticipate is another issue.”

For many tenants, there is relief with the J-51 program. Administered by the city’s Department of Housing Preservation and Development, this program provides tax abatements at properties including those in Park West Village. In March 2009, the State’s Court of Appeals made deregulation illegal for apartment buildings with J-51—though not in condos or co-ops. For tenants living in the buildings at 784, 788, and 789 Central Park West, this is pivotal: From 1994 to 2006, tenants in deregulated apartments began to pay $2,000 per month, or close to it. Those tenants are now eligible for entitlements and lowered rents.

A changing landscape

Amidst construction, some residents voiced major discontent with the large-scale changes coming to their neighborhood.
“It’s horrible,” said Katherine Alt Keener, who has lived in her condo at 382 Central Park West since its conversion out of rent stabilization in 1987. “The construction is noisy and has literally divided Park West Village in two. We’re all insanely unhappy.”

Developer Rosenberg said that ultimately, all the construction would create a larger, more cohesive neighborhood.

Yet Heitner said that, instead of uniting the area, the development has already implemented a division. “All of this construction has put a huge fence between two parts of what had been a community. You can’t just walk across the street anymore,” he said.

Other residents cite the new buildings as an intrusion. “Management ... wanted to call their project ‘Columbus Village,’” explained Chuck Tice, PWVTA Communications Committee chair and resident of 372. He attributed this name change to the developer’s desire “to get away from the Park West Village name that connotes the unique family-friendly near-suburban vista here, to be replaced by their forcing total change to this area as a destination shopping center, much like Columbus Circle.”

Though signs on the scaffolding still advertise the name Columbus Village, Rosenberg said that discussions in 2009 have led to a new name: Columbus Square. He expects the name to be adopted as the project moves forward, and said that the change had nothing to do with the use of the word “village” but that it simply “worked better with the marketing.”

Many tenants and PWVTA members said they fear the new development will contribute to a loss of community cohesiveness and identity. “There isn’t a sense of camaraderie anymore,” Billings said. “I met my friends from across the street at Park West Diner, but when that closed, it was harder to meet everyone. We were heartbroken.”

Rosenberg said that while the population will change, the new community will remain dynamic, and added, “It may skew the overall age of the neighborhood slightly younger, because there is an older population in the existing buildings. But I think that there is no reason that families and older people can’t live in the same neighborhood.”

Still, Elizabeth Wright, a resident of 788 for 16 years, said that “a lot of families are moving out, and instead of long-term residents, there are short-term residents.” She added, “there are a lot of students moving into the condos, splitting two-bedrooms between six people to bear the cost. They’re transitory.”

Some residents acknowledged that change was inevitable while remaining optimistic. “Park West Village is not as economically, culturally, or ethnically diverse as it used to be,” Armstrong said, “but we’ll move on. We’ll make the best of it.”

news@columbiaspectator.com

Columbia Spectator on Retail Development

Development | April 22, 2009 - 7:52pm

Columbus Village brings new retail, development

The elementary school courtyard, the public housing playground, the market-rate condo, and the backyard garage sale are part of a three-block neighborhood on the brink of transformation.

The diverse region from 97th to 100th Streets between Columbus and Amsterdam is nearing the end of the three-year construction of the Columbus Village development project, which involves building over 14 new retail spaces and five residential towers—one already penetrating the Upper West Side skyline.

The developers, Stellar Management in partnership with the Chetrit Group, purchased the entire seven-building Park West Village complex and commercial space in 2000, and since the fall of 2006 have overseen construction to take down and rebuild this area.

Three-and-a-half years after the first stone was laid, the neighborhood faces a definitively different economy, and as vacancies persist and increase two avenues west, uncertainty looms over the slow parade of new retailers making their new homes on Columbus Avenue.

New mix to the neighborhood fabric

“Welcome to the West Side. We have such a diverse group of people with such a wide variety of income levels,” Helen Rosenthal, chair of Community Board 7, said. “It makes this area such a desirable place.”

The wide range of demographics in this neighborhood will be appropriately matched by the assortment of retailers who have signed leases with Winick Realty, the broker for the development. From a small kosher bakery to the next installment of the Upper West Side’s procession of banks, the businesses and organizations moving in are eclectic in both their function and their target markets.


Whole Foods Market, TJ Maxx, Bank of America, the Solomon Schechter School, the Mandell School, Borders Bookstore, Modell’s, Duane Reade, Crumbs Bakery, Chase, Manhattan Bank, Associated Supermarkets, and Ryan Medical Center have all signed contracts for space in this development, said Kelly Gedinsky, one of the brokers for the project.

“We get calls every day, and we hear from every kind of business, sometimes people who even want to start their own businesses,” Gedinsky said of inquiries for the remaining 10 percent of the space that has not been leased, including one ”big-box,” 20,000-square-foot location at 805 Columbus Ave.

While Whole Foods Market is scheduled to open late this summer on the corner of 97th Street, “each of these buildings is on a slightly different timeline,” Gedinsky said.

According to Peter Rosenberg, director of development at Stellar Management, the entire retail project will be completed by the end of 2010.

“We tried to balance fairly large retail spaces with smaller uses that appeal to the neighborhood,” Rosenberg said of the deals they made.

Rosenberg added that although they are “not close with anybody right now,” the firm has spoken with a variety of retailers, including furniture, hardware, pet stores, apparel, and food services.

Many of the businesses moving in said they were excited about the opportunities of this neighborhood specifically and of the development at large.

“Each Whole Foods is unique to that neighborhood. They all have a different look and feel, and even different products,” said Fred Shank, Whole Foods spokesperson.

“We want to sell food to anyone who eats. Whether you are on a budget or not,” he added.

Shrank also noted that the incoming Whole Foods branch hopes to replicate the partnership the market has with New York University in Union Square, to become part of Columbia’s “college town.”
Some businesses said that the typically affluent demographics of the Upper West Side made the location an attractive place to open a new store. ``

“We look for places with homeownership and families with children,” said Thea Houghton, TJ Maxx spokesperson. “We generally go into middle-upper-class areas.”

Uri Cohen, director of development of the Solomon Schechter School, a Jewish private school currently located on the East Side, said that this new neighborhood—into which Solomon Schechter will be expanding its facilities—will be a good local fit.

“They are going to get an authentic Manhattan experience,” Cohen said. “They can use the surroundings as a case study, for economic development, urban planning, for example.”

Response to change

Area residents and community activists agree that there are both positive and negative implications of this large influx of retail.

“The neighborhood now is cut off from the northern end of Columbus,” said Peter Arndsten, executive director of the Columbus Amsterdam Business Improvement District. Arndsten said of the lack of commercial activity from 100th to 104th Streets, “it is a dead zone coming down that hill,” adding that this new development could help fill the gap.

“I think for residents, it is always helpful to have active street life, and with this thriving retail, I think it will be great,” said CB7 Chair Rosenthal.

Local Park West Village residents expressed cautious optimism. “It is New York City, what are you going to do?” said Trudy Oothout, PWV resident for 44 years. Oothout said she was looking forward to shopping at Whole Foods.

Developer Peter Rosenberg said that this retail influx was necessary for this street. “Take any 10-block stretch like this—there is nowhere with such little retail,” he said of the current lack of activity on Columbus.

Rosenberg added that there would be a huge employment opportunity for the community. “I know I have a stack of resumes on my desk of people interested in the building and the retail,” he said.

Frederick Douglass resident Daniel Rivera confirmed that this was the case. “I am excited. I am going to try to get a job there, and it would be great—right across the street from my home.”

Rivera added, “I mean I kind of hate big businesses, but I think it is actually really helping us.”
Existing businesses nearby said they were looking forward to the potential increase in foot traffic as a result of the incoming retail.

Dario Martinez, an employee at Maxine Cleaners on 97th and Columbus, which has been in the area for 15 years, said, “It will be great for business. More people will come here. I think it will really increase the flow.”

Some locals were less enthusiastic. “They don’t say ‘Whole Paycheck’ for nothing,” Park West Village resident Robert Dinkelmann said of the high prices he expects at Whole Foods.

Working together

The economic interests of the developers and local interests of the residents have not always overlapped, though representatives on both sides have agreed that their goals are not mutually exclusive.

Peter Arndsten of the BID said that he and other residents want a “small successful restaurant” to sign a lease, citing viable options such as Mama Mexico, Indian Café, and Café con Leche.

“We always think about what best fits in this place. You can’t put a square in a circle, and as much as the community would love a bar or a restaurant, there are certain things that prevent us from doing this,” said Gedinsky of Winick Realty, adding that zoning laws have made contracts with food services difficult to negotiate.

Local community groups said that they hope these new businesses will work actively with the community, and with one of the businesses, this relationship has already begun.

“Whole Foods has been a good neighbor even before they are here,” said Penny Ryan, district manager of CB7. CB7 Chair Rosenthal said she was particularly happy with Whole Foods’ plans for a “low cost food line” to serve neighborhood residents with lower incomes.

Lorraine Leong, Director of Community Relations and Advocacy of the affordable healthcare organization, the Ryan Center—which is located right across from the future Whole Foods loading dock—expressed concerns that vehicles passing through might pose a potential hazard to the center.

“I think there are ways for us to figure out how to work together,” Leong said. “Whole Foods is going to have social responsibilities.”

Leong explained that the Ryan Center will be opening its Women and Children’s Center and Mental Health Department in the new Columbus Village space on Amsterdam, and added that she would like to elicit support from the new businesses. She hopes Whole Foods will consider entering into a health partnership program with the center.

A different economy

“We began in a different economic climate, financing was much more readily available, and everyone had a rosier outlook,” developer Rosenberg said.

Despite minor concerns about the hard-hitting recession during a crucial period in his project’s progression, Rosenberg said, “I am extremely optimistic, I think that we have been aggressive about pricing our retail spaces to market and bringing in good and financially sound retail uses.”

Rosenberg was not overly concerned about the unsustainable commercial activity two avenues west. “I think that a lot of the landlords on Broadway maybe asked for much too much rent and let good, existing stores get away, when they probably should have had an eye towards renewing some of their existing tenants,” he said.

Many businesses admitted that their excitement to be a part of this development was clouded by fear of recession.

“We are moving ahead, though the job has certainly gotten harder,” said Cohen of Solomon Schechter.

Leong from the Ryan Center said that the new Columbus Village rent will become more of a burden to their budget. “I think it definitely poses more challenges for us, especially now that we are going to have this higher monthly expense,” she said.

“We are paying market rate. It is a sizeable increase,” Leong said.

Jason Bauer, CEO and President of all-kosher bakery Crumbs Bake Shop, said that though his business is up 25 percent, they were “growing out of March at a much greater pace,” at around 40 percent.

While opening a business with these kind of downward fluctuations can be disconcerting, he said that he was pleased that their numbers were still up.

Bauer also said that he foresees his business riding on the coattails of Whole Foods—a speculation he said he took into consideration when first signing the lease.

“We see Whole Foods as an anchor that will bring in a high volume of traffic and give us great exposure,” Bauer said.

Shank from Whole Foods said of the economic outlook, “We are watching every step, and controlling what we can control,” adding that they will be marketing more “value sets.”

Arndsten from the BID said he is uncertain about the future of this development with such a large, simultaneous flow of retail into one area. “It is going to need a strong draw to sustain the rents that they will charge,” he said.

Looking forward by looking back

Rewind five years to Columbus Avenue, pre-construction. In Central Park Café, on the corner of 97th street, locals are eating croissants and drinking coffee. The bodega next door is selling 25-cent bags of chips to fifth-graders from P.S. 163 around the corner. The rest of the block is covered by a Chinese takeout restaurant, a large discount retailer, and a C-Town supermarket.

Meanwhile, Tara Gill, owner of Tandoori Indian Restaurant, is preparing a platter of massaman curry. “Believe me, it was a very friendly neighborhood,” he said today.

Reflecting back, residents of this neighborhood agree that, for better or worse, their backyard has changed fundamentally.

“We were there for 12 years. I knew everyone,” said Gill, who opened a new restaurant on 94th Street after the development displaced him. “I would see people getting old, watch the young people start going to school. But one day we had to go.”

Some recalled traces of the old street with less enthusiasm. “I think the old area was a bit quieter,” CB7 Chair Rosenthal said, remembering the low foot traffic of the block.

“It was more homey, more comfortable,” Arndsten said. “It was little, low-rise brick buildings, with lots of windows facing Columbus and a maximum roofline of 20 feet.”

With the retail parade on its way and comparisons to Columbus Circle, which sports a Whole Foods and a Borders, one looming question remains: Will this development transform the area into a destination neighborhood?

Brenda Massy, PWV resident for 40 years, said, “The community has already changed so much. I have seen it transform from a semi-ghetto into something else quite different.”

Kyra Burstion, FDH resident said, “We like it. It is upgrading our neighborhood. It is changing our community, but definitely for the better.”

Fred Shank of Whole Foods said, “We are a destination shop for customers within the community and outside of the community.”

“I don’t think this is going to become a destination, but I do think you are going to see a lot more people from the rest of the Upper West Side,” Rosenberg speculated.

Ardnsten said he did not think the transformation would be on the scale of 59th Street, but he said the changes are here to stay. “It is a very different feel. It feels much more like an outdoor mall. Who knows, maybe I will be pleasantly surprised.”

news@columbiaspectator.com

Friday, April 3, 2009

Developers renegotiate for new contractors on East Side of Columbus

The NY Times reports (see below) that Gluck & Chetrit have asked their contractors for new bids for the east side of Columbus Avenue. It appears that Tishman is off the job as the general contractor - at least officially. The new contractor is listed as based in one of the 3 rent stabilized Park West Village buildings on the west side of Columbus.

This is part of a larger effort to use non-union labor. See the Carpenters' Union picketers.

April 1, 2009

Deal to Cut Costs Is Close For Builders and Unions

By CHARLES V. BAGLI

Reeling from the real estate downturn in the city, construction unions and builders are edging closer to an agreement that they say will reduce labor costs and enable at least some of their projects in Manhattan to proceed despite the weak economy.

The stakes are high for both sides. Developers, who paid record-breaking prices for land during the boom years, are now desperately seeking ways to cut their costs and keep projects alive.

The unions, in turn, are eager to keep their members employed and to retain their traditional dominance over large-scale projects in New York. Yet many are reluctant to give up hard-won wages and benefits.

Some construction managers and union officials involved in the negotiations say that the pending agreement on work rules, wages and benefits would cut labor costs by 15 to 20 percent, but not the 25 percent originally sought by builders. Many involved are loath to discuss it publicly for fear of blowing up the fragile talks with the union construction trades, all of which are covered by contracts. The carpenters and the electricians have been much more willing to bend, union officials and contractors say, than the steamfitters and the operating engineers, the highly paid operators of cranes, bulldozers and other heavy equipment.

Some developers, however, are skeptical that any agreement will translate into substantial savings. Some doubt whether even a 25 percent reduction would be enough to salvage a residential project when rents have dropped by a third or more.

“A lot of my developers are concerned that it doesn’t go far enough,” Steven Spinola, president of the Real Estate Board of New York, said of the proposed agreement. “But we’re grateful discussions are taking place.”

Among the developers pushing for a deal are Larry Silverstein, who is building at ground zero, Stephen M. Ross, who has a slow-moving project on 42nd Street at 10th Avenue, and the Milstein family, which has a project under way at Battery Park City.

The three people at the center of the negotiations — Raymond G. McGuire, president of the Contractors Association of New York, Louis J. Coletti, president of the Building Trades Employers Association, and Gary La Barbera, president of the Building and Construction Trades
Council of Greater New York, an alliance of unions — did not return calls requesting comment.

“Industry leaders,” said James A. Parrott, chief economist at the union-supported Fiscal Policy Institute, “should be seeking help from Washington to retain construction jobs and maintain wages, benefits and safety standards.”

“Our national economic recovery depends on labor and management working together to expand and not weaken the middle class,” he said.

Construction employment in New York City climbed to roughly 130,000 during the boom years. But a report by the New York Building Congress predicts that that number could fall by 23 percent to 100,000 next year.

Nonunion projects are showing up in what has been a union bastion: Manhattan. The Atlantic Development Group is putting up an 89-unit apartment house at 10th Avenue and 23rd Street in Chelsea with nonunion contractors. And at a union job on the Upper West Side, the Chetrit Group and Stellar Management took the highly unusual step of asking contractors for new bids on three 15-story buildings already under construction on Columbus Avenue, between 97th and 100th Streets.

Developers and union officials expect nonunion contractors to take over the project.

“Our main goal was to continue with the project and keep as many people working as possible,” said Jeff Gdanski, a vice president at the Chetrit Group.

Bruce Ratner, a developer who traditionally builds with union contractors, recently stopped at the 38th floor of his planned 76-story Beekman Tower in Lower Manhattan, threatening to cap the building at 40 stories if construction unions did not accept concessions on wages and work rules.

Mr. Ratner, who is not involved in the current negotiations, stopped work for three months early last year while he scrambled to obtain $680 million in construction financing. At that time, he decided to switch from condominiums to rentals. In another cost-cutting move, he modified the design by the architect Frank Gehry, using a standard curtain wall instead of one that would seem to be undulating, on one of the tower’s eight sides.

It was not so long ago that major Manhattan developers and their lenders worried little about these things, figuring that rents and sale prices would gallop well ahead of the surging cost of land, concrete and steel.

But the cityscape is now littered with half-finished towers that have run into financial problems. Construction managers say that developers are stuck with land costs of $400 a square foot or more, up from $200 five years ago.

In January, developers and construction managers who often use union contractors began talking about a citywide agreement on wages, work rules and benefits. Developers and managers say they prefer union contractors, despite their higher wages, because they provide highly
skilled workers.

“This year is not too bad,” said one union official who insisted on anonymity because he was not supposed to discuss the talks. “But 2010 is looking like we’re going off the ledge.”

But many unions have balked at wage cuts, particularly those who have not suffered layoffs, like cement workers and operating engineers. Some contractors have also questioned the value of the concessions that some unions have agreed upon, even ones that have been verified by consultants. There was talk of a compromise for a select group of six projects, including those owned by Mr. Ross, Mr. Silverstein and the Milstein family.

Executives and labor officials who have been briefed on the latest discussions say the unions may agree to consider projects on a “case-by-case” basis for a special “project labor agreement” that
would save developers whose projects are otherwise not viable up to 20 percent on the current labor contracts.