Susan S. Fainstein. The City Builders: Property Development in New York and , 1980-2000. Second edition. Studies in Government and Public Policy. Lawrence: University Press of Kansas, 2001. xv + 310 pp. $40.00, cloth, ISBN 978-0-7006-1132-4.

Reviewed by David L. A. Gordon

Published on H-Urban (June, 2002)

During the period when the frst edition of projects rebounded in the boom real estate mar‐ Susan Fainstein's acclaimed book was published ket of the late 1990s. in 1994, it was perhaps too easy to criticize public- Research Method private partnerships for urban redevelopment.[1] Three pairs of parallel case studies are the Most projects had collapsed during the early core of the book's research: -- Manhattan's Times 1990s recession, some leaving high profle bank‐ Square and London's Kings Cross, as central busi‐ ruptcies like in London or stalled ness district redevelopments -- Brooklyn's Metro projects like New York's Times Square. It would Tech and Tower Hamlet's Spitalfelds as peripher‐ have been easy to conclude that the policy was as al centers -- Manhattan's Battery Park City and the bankrupt as the developers, based on the evi‐ London Docklands for "creating a new address." dence at hand: missed deadlines, broken prom‐ ises, vacant lots, empty buildings, insolvent devel‐ The case studies are presented in some detail, opers. QED. However, Fainstein, a professor of ur‐ based upon over 100 of-the-record interviews ban studies at Rutgers University, probably sur‐ with developers, planners, politicians, and citizen prised some of her radical colleagues by steering leaders. Secondary sources such as newspaper ar‐ away from a general condemnation of public-pri‐ ticles, planning reports, and academic journal ar‐ vate partnerships and arguing that they might be ticles supplement the interviews. The compara‐ appropriate in some circumstances. Given the di‐ tive case study approach was successfully used in rection of post-structuralist evaluation of develop‐ the past in Altshuler's The City Planning Process ment in the early 1990s, Fainstein's study of New (1965), Savitch's Post-Industrial Cities (1986), and York and London broke new ground in the radical Frieden & Sagalyn's Downtown Inc. (1989).[3] critique of urbanism in capitalist societies.[2] Her However, Fainstein relies rather heavily on New more nuanced conclusions held up fairly well af‐ York Times and Economist articles for the fnan‐ ter Times Square, Canary Wharf, and other cial aspects of real estate development. Critical el‐ ements of the deals, such as risk-sharing arrange‐ H-Net Reviews ments, are often buried in the details. Financial buildings do no harm (1994:74). Of course, with strategy is best reviewed from primary sources the beneft of hindsight, the second edition can re‐ like legal agreements, a bond prospectus, or agen‐ port that the early 1990s were a rather severe cy records, as demonstrated in Lynne Sagalyn's trough and the low-priced vacant space contrib‐ deep analysis in Downtown Inc. and Times Square uted to the recent boom (p. 78). These observa‐ Roulette (2001).[4] Fainstein's text is supplement‐ tions on developer behavior and market cycles ed by a few basic statistical tables in an appendix, are commonplace in real estate development lit‐ but these are used sparingly. The book's argument erature, but Fainstein's innovation was to inte‐ rests on solid qualitative research, with the inter‐ grate them into the urban critique.[6] The revi‐ views and texts updated in 1999-2000. sions to explain the late 1990s boom have made Structure and Content the chapter a more balanced discussion. The London and New York case studies are The following pair of chapters provides the presented in four chapters in the middle of the political and planning context for the case studies. book. The cases are preceded by fve introductory "Policy and Politics" is a brief history of New York chapters on theory and context and followed by and London urban politics in the last third of the two chapters with conclusions and recommenda‐ twentieth century. Political fortunes cycle just as tions. The introduction describes the research strongly as real estate markets, with national po‐ methods and provides a general platform of polit‐ litical control passing back to Tony Blair's Labour ical-economic theory for urban redevelopment. A Party in 1997 after eighteen years of Conservative 1994 appendix surveying theoretical controver‐ rule, and to the Clinton Administration in Wash‐ sies has been incorporated in the frst chapter of ington after twelve years of the Republican the second edition, making it more useful as an regime. At the local level, Fainstein brings the ac‐ introductory reading for an advanced undergrad‐ count up to date with the Giuliani administration uate or graduate course in urban politics. The in New York and the frst tentative steps of the re- next two chapters discuss real-estate development established London metropolitan government af‐ from the perspective of political economy. "The ter its abolition by Thatcher in 1986. Development Industry and Urban Redevelop‐ "Economic Development Planning Strategies" ment" situates the London and New York property describes how the American and British urban industry within the context of global cities, draw‐ planning systems converged on a strategy of pub‐ ing upon Sassen and Castells' work.[5] Fainstein lic-private partnerships for economic develop‐ describes the general efects of the 1980 boom, the ment in the 1980s, despite widely difering start‐ early 1990 bust, and the late 1990s revival in Lon‐ ing points. London's Labour boroughs fercely op‐ don and New York, focusing mainly on the local posed the initiatives of the national Conservative ofce markets. government in the 1980s, and New York's neigh‐ In the "Markets, Decision-Makers and the bourhoods often resisted the initiatives of its pri‐ Real-Estate Cycle" chapter, she discusses the vate developers and public urban redevelopment boom-and-bust cycle, trying to establish why it agencies. However, at the end of the 1990s, happened in each city. The 1994 edition went to Fainstein fnds policy diverging again, as Blair's press at the nadir of the bust, and she was not government did not abandon public-private part‐ sure whether this was a permanent structural nerships, but merely continued to expand the so‐ change in the ofce market or whether we were cial considerations to the process added in John just at the low point of the cycle. Fainstein cited Major's Tory regime. Meanwhile, the Clinton ad‐ counter-arguments that perhaps empty ofce ministration and the Republican Congress provid‐

2 H-Net Reviews ed less urban assistance than the progressives ex‐ tract to a partnership of National Freight (a priva‐ pected, and Giuliani's priorities seemed to lie with tized rail company) and Rosehaugh Stanhope, de‐ law enforcement and away from neighbourhood velopers of the successful Broadgate project at revitalization. Of course, New York's urban rede‐ Liverpool Street Station. Over fve million square velopment agenda changed abruptly again as the feet of ofces were proposed for the site, which second edition of the book was released in Sep‐ was expected to become the terminus of the Chan‐ tember 2001. The City is likely to be even more fo‐ nel tunnel train. Camden council opposed the cused on central business district redevelopment scale of the project and bargained for social hous‐ following the destruction of the World Trade Cen‐ ing, worker training, and other benefts. The ter. whole project stalled with uncertainty over the The Case Studies: King's Cross and Times Channel tunnel terminus and the early 1990s de‐ Square cline of the London ofce market. Rosehaugh Stanhope collapsed, and a new King's Cross Part‐ Much of the early descriptive material in the nership emerged with public and private stake‐ six case studies has remained the same between holders. They received government funds for the two editions, but the author has brought each small-scale social housing, training, and service case up to date to the end of the year 2000. In initiatives, while some commercial development 1994 Fainstein seemed to judge only Brooklyn's and railway terminus are still on hold. MetroTech as a clear success, with qualifed praise for Manhattan's Battery Park City, which Times Square had an even higher-profle site was then stalled. New York's Times Square and than King's Cross, but was similarly stalled in London's King's Cross, Spitalfelds, and Canary 1994. The "Crossroads of the World" was in terri‐ Wharf appeared to be failures, if not candidates ble shape in the 1980s, inundated with pornogra‐ for a new edition of Peter Hall's Great Planning phy shops, adult cinemas, prostitutes, drug deal‐ Disasters.[7] ers, and a serious crime problem. A 1981 plan by architects Philip Johnson and John Burgee col‐ After six years of growth and with more hind‐ lapsed despite the deep pockets of the Prudential sight, we can see that Battery Park City, Times Insurance Company in the development partner‐ Square, and Canary Wharf now appear successful ship. The 13-acre project was brought to its knees on their own terms, and the other two London by a continuous series of lawsuits fled by proper‐ projects have made substantial progress. The au‐ ty owners and a coalition of civic groups con‐ thor clearly has some explaining to do, but fortu‐ cerned with urban-design issues. A new plan ap‐ nately her qualifed consideration of the benefts peared to be going nowhere in 1994, with vacant and disbenefts of the projects in 1994 left some lots and buildings emptied of their tenants follow‐ room for revision. While King's Cross and Times ing expropriation by the redevelopment agency. Square seemed stalled in a similar purgatory in The frst edition of The City Builders was in press 1994, their relative positions were far apart in when the key events in Times Square's reversal of 2001. Both projects were hotly contested plans to fortune occurred in 1993. Fainstein can be forgiv‐ redevelop key sites within the existing Central en for not noticing the signifcance of the media Business Districts. Their redevelopment agencies giant Bertelsmann's purchase of the vacant new both had little to show for over a decade of plan‐ ofce building at 1540 Broadway in March 1992. ning in 1994. [8] Morgan Stanley's August 1993 purchase of The King's Cross project covered 134 acres of 1585 Broadway, which signaled the westward derelict railroad facilities in the central London shift of the Midtown fnancial district, also oc‐ Borough of Camden. British Rail awarded the con‐ curred too late to infuence the analysis in the

3 H-Net Reviews frst edition. After all, the 42nd Street Develop‐ other projects during the 1980s. The Spitalfelds ment Partnership collapsed in August 1992, and projects are located just outside the CBD of the the situation on the Times Square site appeared to City of London in the Borough of Tower Hamlets. be getting worse. Finally, the City of New York ne‐ The large commercial projects proposed for this gotiated the agreement for the New Amsterdam impoverished borough have stalled out in 1994, Theatre in late 1993, but the lease with Disney but smaller-scale mixed use redevelopment of a was not signed until after the book was published. brewery and market has recently helped rejuve‐ The post-1994 renewal Times Square is now nate the Spitalfelds Market site and nearby Brick almost complete, with all four ofce towers built Lane. The Blair government's adjustments to the or under construction, renovated theatres, lively British urban regeneration programme appear to retail, and a successful Business Improvement have empowered development here that is simi‐ District keeping the area clean and safe for the lar to the impact of its policy on King's Cross. employees, residents, and tourists. Fainstein takes Fainstein concludes that, ironically, the crafts other critics [9] to task for simplistic attacks on market and ethnic restaurants have made the Disney and the middle-class crowds that have re‐ area safe for large-scale investment by changing turned to the Square, arguing that the absolute its image, possibly leading to their future displace‐ number of poor and minority visitors may not ment (p. 146). Fainstein's analysis of the have declined: "Should we say that a place is less MetroTech Center in Downtown Brooklyn has not diverse or less democratic because it now attracts changed substantially since 1994. She believed the middle class, when previously poor people of that it was a successful initiative of the City of color were perceived to dominate? Are visitors New York, preventing data-processing operations better of with real risk than ersatz adventure?" of some Manhattan fnancial frms from relocat‐ (p. 135) ing to New Jersey. She praised its developer, For‐ est City Ratner, for its commitment to the public In the frst edition of The City Builders process and plan, concluding that the project con‐ Fainstein concludes that "many viable businesses tributed to stabilizing downtown Brooklyn (p. have been driven out of the area and two large of‐ 157). fce buildings, which will be extremely difcult to refll, stood empty." (1994: p. 140). In the second Creating a New Address: Battery Park City edition, she still criticizes the public agencies for and the London Docklands tax giveaways, lack of exactions, and bulky build‐ The fnal two cases in The City Builders are ings (p. 136). She believes that the smaller-scale probably the two most high-profle redevelop‐ improvements to the theatres and public spaces ment projects in New York and London during hastened the recovery of the ofce market, but this era. Battery Park City is widely regarded as a her overall evaluation is rather positive: "A visitor triumph of urban design and a model of fnancial to Times Square encounters vast crowds and sen‐ management during the 1980s and 1990s,[10] yet sory overload. If economic expansion, visual ex‐ it attracted ferce criticism from the academic left citement and popularity are the criteria for suc‐ for its symbolism and housing policies.[11] The cessful redevelopment, then Times Square is a 92-acre site became too prominent again in Sep‐ winner" (p.140). tember 2001 with the destruction of the adjacent The Sub Centers: Spitalfelds and MetroTech World Trade Center, which damaged adjacent of‐ fce buildings in Battery Park City. The Spitalfelds and Brooklyn case studies re‐ ported in chapter 7 of The City Builders did not The 5,200-acre London Docklands was per‐ experience the dramatic changes reported in her haps the largest redevelopment site in the West‐

4 H-Net Reviews ern world in the 1980s. It was enormously contro‐ risk-takers of the era, gambling his family's for‐ versial politically and largely condemned in the tune in "creating a new address"--a new corpo‐ academic press during the decade.[12] The 1993 rate-headquarters location on abandoned landfll bankruptcy of the world's largest ofce developer, in Lower Manhattan. The strategy worked in New , at Canary Wharf attracted York, but few would have believed it at the time. worldwide media attention. The post-1994 recov‐ If the book had been written in 1982, at the end of ery of the Docklands in general and especially Ca‐ that market cycle, few authors would have picked nary Wharf has been under-reported in the aca‐ the WFC as a winner. In hindsight, it appears like‐ demic and popular press. Fainstein provides a ly that the Battery Park City site would be valu‐ brief overview of the 1960s origin of the Battery able once the glut of ofce space caused by the Park City Authority (BPCA), avoiding the tempta‐ opening of the World Trade Center at the begin‐ tion to lapse into conspiracy theory over the role ning of the recession was absorbed. of Governor Nelson Rockefeller and Chase Man‐ In 1994 Fainstein concluded that Battery Park hattan Bank President David Rockefeller in its in‐ City "is a carefully co-ordinated total environ‐ ception.[13] The state agency initially attracted ment, with substantial fnancial benefts dissemi‐ the ferce opposition of Mayor John Lindsay and nated to the general population. Its principle pri‐ very nearly went bankrupt in the late 1970s New vate developer went beyond meeting its contrac‐ York fscal crisis. Fainstein correctly identifes the tual obligations and provided the public with sig‐ pivotal role of New York Urban Development Cor‐ nifcant amenities. The authority has also used its poration chairman Richard Kahan in turning funds to make the city more appealing. Neverthe‐ around the project's fnances and commissioning less, except in some of the park planning, it has an innovative urban design plan by Alexander involved no public participation whatsoever. Its Cooper and Stanton Eckstut in 1979. However, commercial and residential structures are re‐ given the agency's previous conficts with the lo‐ served for the wealthiest corporations and fami‐ cal government, the book's political analysis lies in the United States, although any well-be‐ might have been stronger if the author had re‐ haved individual can use them on a daily basis. viewed the agreements reached between BPCA She says: "Within the constraints of New York's and the City of New York, where Deputy Mayor political and economic situation, however, it is Robert F. Wagner, Jr. played a leading role. hard to imagine an alternative strategy for the Fainstein briefy describes the frst-rate pub‐ site that could have resulted in a more desirable lic spaces and 14,000 apartments planned for outcome or that, in the absence of any develop‐ most of the Battery Park City site. However, she ment there, commensurate resources would have devotes most of the case to the World Financial been mobilized for a more socially benefcial Center, the ofce complex that turned around the course" (pp. 184-5). fnances of the agency. Canadian developers When I frst read these words in 1994, I did Olympia and York were little known before they not understand that this was as close as it gets to a completed this signature complex, although they good review of a privately developed project in were already New York's leading ofce landlord. radical political economy. As a practicing planner The company was privately owned by 's and public-redevelopment manager, I was famil‐ , devout Orthodox who iar with the litany of praise for the project. Per‐ hardly ft the typical developer profle with their haps to protect her left fank in the academy, conservative demeanor and modest lifestyle.[14] Fainstein had couched her positive evaluation in Fainstein demonstrates that despite appearances, careful academic prose and bracketed it with crit‐ was one of the biggest real-estate

5 H-Net Reviews icism of the authority and observations on its elite Battery Park triumph at over twice the size - al‐ residents. I didn't realize that she liked Battery most 12 million square feet, with over fve million Park City, too. Mea culpa.[15] in the ill-fated frst phase. The reasons for failure Moreover, Fainstein upbraided commentators in London versus success in New York seemed ob‐ like Sorkin and Boyer, who attacked Battery Park vious in 1994: demand for ofce space had col‐ City's public space as too clean, too safe and inau‐ lapsed in the recession, there was much compet‐ thentic: "Leftist urban critics like to put down san‐ ing new space in the City, transportation improve‐ itized environments, but gritty is not necessarily ments were stalled or late, Britishfrms would not preferable to pretty. There are few New Yorkers of locate outside of the City, and Canary Wharf was any social stratum who do not welcome the occa‐ three miles from the CBD, while Battery Park City sional opportunity to visit a park open to the sea was across the street from the World Trade Cen‐ and unsullied by detritus; Battery Park City satis‐ ter. The only question seemed to be whether this fes a genuine human need" (p. 184). situation was merely the trough of another mar‐ ket cycle or a structural change in the ofce mar‐ Fainstein has updated the case, adding new ket. information about the fnal construction projects and the BPCA's eforts to support afordable hous‐ Fainstein considered both possibilities and ing over the past decade. The case must have three options for the future (p. 212): -- an empty seemed closed in early 2001, but the destruction white elephant -- a secondary back-ofce center of the World Trade Center has created an unex‐ like Croyden -- a government bail-out by relocat‐ pected and unwelcome opportunity to correct ing civil servants[17] She did not consider the pos‐ Battery Park City's worst urban design faw--its sibility that the Canary Wharf project might sim‐ weak connection to Lower Manhattan across the ply be stalled and would be completed as a major West Side Highway. We can only hope that the ofce headquarters according to the original plan. planners will do better the second time around. However, Fainstein, swam against the tide of aca‐ demic criticism in 1994, endorsing Canary Wharf The London Docklands and Canary Wharf as a business center in underutilized land that re‐ It is tempting to confate the story of Canary quired greater governmental commitment to in‐ Wharf with that of the London Docklands, but frastructure. She proposed that in return for this even in 1994, the perils of this approach were be‐ support, the government should receive ground coming clear. The 5,200-acre Docklands project rent similar to Battery Park City. (p. 249). The re‐ was more than an order of magnitude larger than viewer in the leading British planning journal Battery Park City, and Canary Wharf only com‐ was astonished that she had anything good to say prises 82 acres of the site. Fainstein's chapter about the project.[18] barely has room to acknowledge the Docklands' Fainstein has re-written the outcome and her new airport and 24,000 additional housing units, conclusions on the case. She describes the unfore‐ ranging in scale from small historic infll to a new seen re-purchase of the project by a consortium town-in-town at Newham. Peter Hall and Michael led by Paul Reichmann and its remarkable turn‐ Hebbert were among the frst academic observers around. Once again, events in the boom have run to look beyond Canary Wharf battles and notice ahead of the publishing cycle, and the last ele‐ that the Docklands were not a complete disaster, ments of the project went into construction in and some interesting planning and development 2002.[19] Fainstein now concludes that "Canary was underway.[16] Wharf can now be seen as the total success in re‐ Fainstein concentrates on Canary Wharf, location to the goal of reviving the economy of the where Paul Reichmann attempted to repeat his

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Isle of Dogs, even if the path toward its triumph Fainstein suggests that public-private partner‐ was less direct and more time-consuming that ships are inevitable where giant multi-national had been foreseen." (p. 191). She also re-wrote her service corporations dominate economic transac‐ conclusions about the rest of the Docklands, re‐ tions. Rather than rejecting them on moral fecting the positive evaluations of the residents grounds, she recommends improving public-pri‐ and the Blair government. This replaces her earli‐ vate partnerships for better social results. She rec‐ er summary that "the whole Docklands experi‐ ommends seeking the participation of smaller ence exposes the fatal weakness of relying heavily frms and admires the changes made in the on property development to stimulate regenera‐ British Single Regeneration Budgets (pp. 224-5). tion..." (1994:213). Unfortunately, this is perhaps the weakest portion Fainstein's Conclusions of the book, for although the new edition has a brief reference to Amsterdam, the author has few The fnal two chapters of the book evaluate proposals for specifc improvements that could the nature of real estate development and make improve practice. Political economists can help suggestions for future urban policy. "Real-Estate improve planning and urban redevelopment poli‐ Development: Why it is Special and What is its Im‐ cy with case studies of projects that are successful pact?" examines the development industry, start‐ at encouraging public participation and aford‐ ing from the Marxist critique of economic struc‐ able housing. For example, the public administra‐ ture. She gently lets the air out of a few post-struc‐ tion literature on development authorities has turalist balloons about diversity, authenticity, and suggestions on how they might be made more po‐ democracy (pp. 202-213; 224-236): it is not ofen‐ litically and fnancially accountable.[20] Other au‐ sive to value safety, since it is a legitimate human thors have examined how the urban redevelop‐ need; it is acceptable to prefer a clean public ment process has created afordable housing.[21] place to a dirty one; authenticity is a relative term in urban design, since most architecture in the What Has Changed Between the Editions? past few centuries is a reworked form of a previ‐ A second edition of a book of this type often ous style; and a true commitment to diversity consists of an extra chapter tacked onto the end, should not be ofended when middle-class people bringing us up to date on the changes in the past also use public space, since the vast majority of decade. Fainstein has instead made extensive re‐ Americans are middle-class. visions to the six case studies in the central chap‐ Fainstein's fnal chapter, "Development Policy ters and minor changes to her theoretical intro‐ for the Inner City," starts from the premise that duction. The conclusions have hardly been while redistribution and afordable housing are amended, which is remarkable, considering the important goals, socialist urban redevelopment reversals in fortune in two of the cases and im‐ programs must also encourage economic growth provements in two others. The author can still jus‐ to have mass appeal in the USA and UK. While ac‐ tify her conclusions because the original discus‐ knowledging the post-structuralist criticisms, she sion was reasonably balanced. While she ap‐ demands that a better alternative must be avail‐ peared to be leaning to the left in 1994 in some able before redevelopment projects are rejected. cases, she acknowledged other possible outcomes For example, she concludes that business sub-cen‐ that were subsequently confrmed. However, stat‐ ters like MetroTech and Canary Wharf are less en‐ ic conclusions after such considerable changes in vironmentally and socially destructive then inten‐ key cases makes the case-study method seem a bit sifying development within already crowed cen‐ suspect. tral business districts.

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The revised text reads a little more smoothly, The cover illustration of the frst edition of after editing the passive voice and extensively up‐ the book was Davringhausen's Der Schieber ("The dating the bibliography. Some stock pictures have Profteer"), portraying a fat white businessman re‐ been replaced with the author's own photographs. laxing in his penthouse ofce with port and It is a pity that the cases are not more fully illus‐ cigars, surrounded by modern commercial build‐ trated, especially when urban design issues are ings. The ugly face of capitalism was replaced on important, such as the rejection of the Philip John‐ the cover of the 2001 edition with a model photo‐ son plan for Times Square. The lower quality of graph of MetroTech, the downtown Brooklyn pub‐ reproduction of the maps and photos in the cur‐ lic-private partnership that the author considers a rent edition also reduces the book's suitability for success. We shouldn't judge a book by its cover, urban design and planning courses. but it is hard not to observe the improvements to The Reviewer's View Fainstein's book in this switch. The second edition of The City Builders has become a much stronger Beware of jumping to early conclusions when book by explaining and acknowledging the reviewing major urban-redevelopment projects. changes in the case studies and analysis that oc‐ Five to ten years is an average time for start-up curred in the past decade. planning, and some relatively small projects like Battery Park City (92 acres) may take three Notes decades to complete. It is perfectly possible for a [1]. Susan S. Fainstein. The City Builders: project that has been underway for ffteen years Property Development in New York and London, to be stalled out with no private buildings, if a Cambridge, Mass. and Oxford, UK: Blackwell, real estate recession hits at the wrong time.[22] 1994. xiii + 298 pp. 16 fgures, 11 tables, notes, bib‐ Susan Fainstein adjusted to the problem with both liography, and index. editions of The City Builders, but others did not, [2]. Harvey, D. 1989. The Condition of Post- and their work quickly became obsolete. Modernity, Baltimore: Johns Hopkins University Any academic or professional library that Press; Thornley, A. 1991. Urban Planning Under holds the 1994 version should purchase the 2001 Thatcherism: A Challenge of the Market, London: edition, since the revisions are substantial. Course Routledge; Sorkin, M. (ed.). Variations on a Theme reading lists should certainly be updated to the Park, New York: Hill and Wang; Boyer, M. C. 1994. new edition. The 2001 book should continue to The City of Collective Memory: Its Historical Im‐ have a good market as a text for advanced under‐ agery and Architectural Entertainments, Cam‐ graduate and graduate courses, since the new bridge, Mass.: MIT Press. publisher ofers a paperback edition that is actu‐ [3]. Altshuler, A. A. 1965. The City Planning ally cheaper than the 1994 edition. It should con‐ Process: A Political Analysis, Ithaca, N.Y.: Cornell tinue to fnd most use in urban politics and urban University Press; Savitch, H. V. 1988. Post-Industri‐ studies courses. The City Builders may have a less‐ al Cities: Politics and Planning in New York, Lon‐ er market in urban planning and design, because don and , Princeton, N.J.: Princeton Universi‐ of its focus on explanation and critique rather ty Press; Frieden, B. J. and L. B. Sagalyn. 1989. than future action. Finally, some New York and Downtown, Inc.: How America Rebuilds Cities, London researchers may want the new edition for Cambridge, Mass.: MIT Press. their personal libraries, to track the changes in [4]. Sagalyn, L. 2001. Times Square Roulette the cases, but since the conclusions are largely un‐ Cambridge, Mass.: MIT Press. changed, other academics who own the original may fnd a second copy unnecessary.

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[5]. Sassen, S. 1991. The Global City, Princeton, City to Battery Park City," in M. C. Sies and C. Sil‐ N.J.: Princeton University Press; Castells, M. 1989. ver, Planning the Twentieth Century American The Informational City, Oxford: Blackwell. City, Baltimore: Johns Hopkins University Press, [6]. Weiss, M. A. 1991. "The Politics of Real Es‐ pp. 428-448. tate Cycles," Business and Economic History, vol. [12]. There is considerable critical literature 20, no. 2, pp. 127-135; Miles, M. E., R. L. Haney, and on the Docklands. See Brownill, S. 1990. Develop‐ G. Berens. 1996. Real Estate Development: Princi‐ ing London's Docklands: Another Great Planning ples and Practice, Washington, D.C.: Urban Land Disaster?, London: Paul Chapman Publishing; Institute, chap. 9. Thornley 1991, op. cit.; Docklands Consultative [7]. Hall, P. G. 1980. Great Planning Disasters, Committee. 1992. All That Glitters Is Not Gold: A Berkeley: University of California Press. Critical Assessment of Canary Wharf, London: DCC, May 1992. [8]. Adler, J. 1993. High Rise: How 1000 Men and Women Worked Around the Clock for Five [13]. Fitch, R. 1993. The Assassination of New Years and Lost $200 Million Building a Sky‐ York, New York: Verso. scraper, New York: Harper Collins. It is odd that [14]. Bianco, Anthony. 1997. The Reichmanns: this best-selling book is not included in the exten‐ Family, Faith, Fortune and the Empire of Olympia sive bibliography of either edition of The City & York, New York: Random House; Foster, P. 1993. Builders. Towers of Debt: The Rise and Fall of the Reich‐ [9]. Reichel, A. 1999. Reconstructing Times manns, Toronto: Key Porter Books; Stewart, Wal‐ Square, Lawrence, Kan.: University Press of Kan‐ ter. 1993. Too Big to Fail: Olympia & York: The sas; Berman, M. 1997. "Signs of the Times," Dis‐ Story behind the Headlines, Toronto: McClelland sent, vol. 44, no. 4 (Fall), pp. 76-83; Sorkin 1992, and Stewart. op. cit. [15]. I will mimic one of the charming aspects [10]. Garvin, A. 1996. The American City: of the book, where Fainstein discusses her person‐ What Works, What Doesn't, New York: McGraw al motivations in the endnotes. I studied Battery Hill; Gill, B. 1990. "The Sky Line: Battery Park Park City after a Toronto waterfront project I City," The New Yorker, Aug. 20, 1990, pp. 69-78; helped develop fell apart politically in the late Goldberger, P. 1986. "Battery Park City is a Tri‐ 1980s. My conclusions were that the post-1979 umph of Urban Design" The New York Times, Au‐ Battery Park City Authority was the best-managed gust 31, 1986, Sect. I, p. 1.; Time. 1990. "Best Of The redevelopment authority of the fve that I studied, Decade," June 1, 1990, pp. 102-103. with many practical political, fnancial and urban- design lessons for professional planners. See Gor‐ [11]. Boyer 1994, op. cit.; Sorkin 1992, op. cit.; don, D. L. A. 1993. "Architecture: How Not to Build Deutsche, R. 1991. "Uneven Development: Public a City: Implementation at Battery Park City," Art in ," in D. Ghirardo, Out of Site: Landscape and Urban Planning, vol. 26, pp. 35-54; A Social Criticism of Architecture, Seattle: Bay 1996. "Planning, Design & Managing Change in Ur‐ Press; Russell, F. P. 1992. "Battery Park City: An ban Waterfront Redevelopment," Town Planning American Dream of Urbanism," in B. Lightener Review, vol. 67, no. 3 (July 1996), pp. 261-290; (ed.), Proceedings of the First International Sym‐ 1997.Battery Park City: Politics and Planning on posium on Design Review, Cincinnati, Ohio: Uni‐ the New York Waterfront, New York: Routledge; versity of Cincinnati Center for Urban Design; 1998. "Canary Wharf & Battery Park City: Imple‐ Schuman, T. and E. Sclar. 1996. "The Impact of Ide‐ mentation Lessons for the New Millennium," Ris‐ ology on American Town Planning: From Garden ing East, vol. 2, no. 2, pp. 160-188.

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[16]. Hall, P. 1988. Cities of Tomorrow, Lon‐ Urban Afairs Quarterly, vol. 26, no. 3 (March, don: Basil Blackwell; Hebbert, M. 1992. "One 'Plan‐ 1991), pp. 354-375; Drier, P. & W. D. Keating. 1990. ning Disaster' After Another: London Docklands "The Limits of Localism: Progressive Housing Poli‐ 1970-1992," The London Journal, vol. 17, no. 2 (Fall cies in Boston, 1984-89," in Urban Afairs Quarter‐ 1992), pp. 115-134. ly, vol. 26, no. 2 (December, 1990), pp. 191-216. [17]. Incidentally, this is how Nelson Rocke‐ Also, Montgomery County, Md. has an inclusion‐ feller bailed out his brother's initiative, the World ary zoning policy for suburban development that Trade Center, in the 1970s. The State of New York has been efective. leased almost half of the space at very favourable [22]. Gordon, D. 1997. "Financing Urban Wa‐ rates. See Darton, Eric. 1999. Divided We Stand: A terfront Redevelopment," Journal of the American Biography of New York's World Trade Center, Planning Association, vol. 63, no. 2 (Spring), pp. New York: Basic Books, p. 204. 244-265. [18]. Colenutt, R. "The City Builders," Town Planning Review, vol. 67, no. 1 (January, 1996), pp. 123-124. [19]. Gordon, D. 2002. "The Fall and Rise of Ca‐ nary Wharf," Wharton Real Estate Review, vol. 6, no. 1, pp. 75-85. It is hard to keep up with develop‐ ment events on an academic publishing cycle. An earlier version of this paper, published in Plan‐ ning Theory and Practice in September 2001 was out of date by the end of the year because the de‐ veloper leased the last of the buildings and rushed them into construction despite the de‐ struction of the World Trade Center. [20]. Mitchell, J. (ed.). 1992. Public Authorities and Public Policy: The Business of Government, New York: Praeger.; Axelrod, D. 1992. Shadow Government: The Hidden World of Public Authori‐ ties and How They Control $1 Trillion of Your Money, New York: John Wiley; Walsh, A. H. 1990. "Public Authorities and the Shape of Decision Making," in Bellush & Netzer, Urban Politics New York Style, New York: Sharpe; Walsh, A. H. 1980. The Public's Business: The Politics and Practices of Government Corporations, Cambridge, Mass.: MIT Press; Gordon, D. 1997. "Managing The Changing Political Environment In Urban Water‐ front Redevelopment," Urban Studies, vol. 34, no. 1 (January, 1997), pp. 61-83. [21]. For Boston, see Drier, P. & B. Ehrlich. 1991. "Downtown Development and Urban Re‐ form: The Politics of Boston's Linkage Policy" in

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Citation: David L. A. Gordon. Review of Fainstein, Susan S. The City Builders: Property Development in New York and London, 1980-2000. H-Urban, H-Net Reviews. June, 2002.

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