Atlantic Yards’ Best- and Worst-Case Scenarios

Forest City Ratner and Skanska have taken to the courts over construction of the modular units for the 363-unit B2, the first residential building at Pacific Park (formerly Atlantic Yards). So when will B2—and thus the 6,037 additional residential units planned there—restart?

Tarter Krisnky’s David Pfeffer says disputes between owners and contractors can significantly delay a project. But if our legal research (i.e. Law & Order binge marathons) has taught us anything, it’s that a settlement is never off the table. In that case—the probable scenario, David says—the duo could get back to work at any time. Forest City also has expressed a desire to take over from Skanska the Brooklyn Navy Yards factory that makes the modules, but David notes that experts usually recommend against going solo on such a large project. Meanwhile, finding another general contractor to come in at this stage may not be easy.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

Mamdani Adds Millions To Program Helping Retailers Negotiate With Landlords