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Gowanus Canal Gets Superfunded; Developers to Retreat?

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The Toll Brothers tied its big mixed-use development on the shores of the Gowanus Canal to the condition that the polluted waterway avoid a Superfund designation, but as expected, the Environmental Protection Agency got all up in the canal's business today. Toll Brothers and other developers lobbied against a federal cleanup, which is estimated to take 10 to 12 years, in favor of Mayor Bloomberg's quicker and less stigma-drenched plan, so this is a pretty stinging defeat for a number of parties trying to sell the vision of Brooklyn's running punchline as a new Gold Coast. Will the builders really back out? More importantly, is the Gowanus Canal still Sponge-worthy?
· Gowanus Canal in Brooklyn Is Given Superfund Status [NYT]
· Gowanus Canal coverage [Curbed]