Thursday, May 11, 2006

SigTow Developer's Says Decision to Go Taller and Jettison Affordable Units Based on High Demand

According to Richard Lawson of, Tony Giarratana has abandoned the deal that would have brought $12 million in tax-increment financing into his coffers from the Metropolitan Housing Development Agency. That means that no affordable housing will go into the Tower. Giarratana told the Post that his list of reservations for what would be the tallest residential tower in the world has grown to almost 1000. Giarratana says that he is not interested in renegotiating with MDHA in light of his intent to add 10 more stories to SigTow.

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