After reading the comments in my earlier post about the confluence between a recent property seizure in Oakland and Congresswoman Nancy Pelosi's wild defense of eminent domain in the Kelo decision, I did a bit more digging into the lead developer on the Oakland project, Forest City Enterprises, Inc.
Forest City is a publicly-traded development and real estate conglomerate run by the Ratner family of Cleveland, Ohio. Led by the Ratners, Forest City is a player in major developments on both coasts (and many places in between), including some of the hottest hot spots in eminent domain seizures.
The biggest, or at least the most publicized, involves a huge tract of Brooklyn in New York City. The Ratners are proposing to turn it into a condo-shopping-basketball-arena complex; Bruce Ratner of Forest Park is the owner of the New Jersey Nets. The Ratners are lobbying the city and state of New York to exercise eminent domain powers to seize properties in Brooklyn for this project.
And you thought I was being hypothetical!
Read the whole thing.