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May 19, 2006

Thousands of million-dollar condos, the AY scale, and FCR's bottom line

Atlantic Yards Report

Forest City Ratner executive Jim Stuckey, in a radio interview Monday, defended the size of the Atlantic Yards project, saying "Unfortunately, if you want to build on this site, the infrastructure costs and the land costs are so significant that it does require that you build to a certain scale."
...
The fact is, until and unless Forest City Ratner releases its pro forma economic projections, as rival bidder Extell did, we're in the dark about Stuckey's claim. And the infrastructure costs and land costs cited by Stuckey certainly deserve more scrutiny.

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Posted by lumi at May 19, 2006 7:04 AM