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SEEING THROUGH PPPs

SEEING THROUGH PPPs
Stroock's Ross Moskowitz
Transparency’s the buzz word in public-private partnerships, says Stroock real estate guru Ross Moskowitz, whose broad practice (50% land use, 30% straight real estate, and 20% gov't relations) has a heavy emphasis on PPPs. On the public side, he's seeing increased focus on transparency related to the process, criteria, selection of partners, and getting the best deal for the taxpayer. On the private side, he tells Legal Bisnow it's critical that all stakeholders understand that every aspect of the deal will be up for public review. Not comfortable with having the deal analyzed at public hearings and in the public arena? Either get comfortable or reconsider. Another related issue: language circulating in a City Council bill that would force projects receiving tax subsidies to pay living or prevailing wages for employees at the developed site. He tells us it could impact the pricing and the market of available partners.
Alexandria Center For Life Science/New York City
Ross has been centering his attention on the $700M Alexandria Center For Life Science/New York City, repping Alexandria Real Estate Equities in developing a life sciences park to attract industry companies to the city. He's worked on the deal since '05 and says the first tower was recently completed and is now almost fully leased. Alexandria's planning for the second and has an option for a third, if demand necessitates. On those rare weekends when work permits, Ross likes to plan day-long, packed itineraries for his family and friends to explore new neighborhoods. Most recently, he discovered some new Astoria restaurants and lively hangouts and says next on his agenda is Tottenville in Staten Island.