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"The prospect of creating new acreage within shouting distance of Wall Street could quickly turn an environmental tool into a real estate boondoggle, raising the specter of an offshore Hudson Yards. Patchett insists that the city would rather create a park than a neighborhood, but that depends on whether the federal government comes back around to seeing climate protection as a national security issue. “It’s everyone’s preference not to do development there,” Patchett says. “But we may need some development to finance it.” In other words, if the government doesn’t step up, private investors will, so long as we let them build something they can sell."