That well-known fake-news site, the New York Times, has once again published a report claiming that transit hubs are a “growing lure for developers.” The Times published a similar story eight years ago, and the Antiplanner quickly found that every single development mentioned in that story was subsidized with tax-increment financing (TIF) and other government support.
So has anything changed since then? Nope. The first development mentioned in the recent story by Times reporter Joe Gose is Assembly Row, in the Boston suburb of Somerville. Is it subsidized? Yes, with at least $25 million in TIF along with other state funds.
Then Gose mentions Chicago’s Fulton Market, downtown Kansas City, Austin, and Denver’s RiNo neighborhood. Fulton Market just happened to receive at least $42 million in support from the city of Chicago, much of which comes from TIF. Continue reading