Today, likely to deflect from a federal lawsuit filed two days ago, Forest City Ratner has released new renderings of the first towers the developer hopes one day to put up, and has confirmed, sorta maybe, that the towers will be done with modular, pre-fab construction. Notably, where once Tower 1 was to break ground this year, then was shifted to early 2012, now Ratner says maybe in the spring....yet, according to the Post, there is no financing.
More on the renderings from Atlantic Yards Report but we want to hone in here on a statement by Bruce Ratner in the exclusive given to the developer's favorite newspaper, The Times, that raises an important question. The statement:
So, if construction costs are cut 25% will Ratner cut rents and income eligibility for the "affordable" units accordingly? Surely the project's sponsors at the ESDC, the Cuomo Adminstration, Mayor Bloomberg, Bertha Lewis and pols who enthusiastically supported the project's "affordable" housing will demand this. Right?
Mr. Ratner, chief executive of Forest City Ratner, said that prefabrication or modular construction could save time and cut construction costs by as much as 25 percent.