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June 14, 2007

Goodbye, Mr. Stuckey; Atlantic Yards head departs for "new challenges"

Atlantic Yards [Group President] Report

Jim Stuckey, president of the Atlantic Yards Development Group for Forest City Ratner and the developer's point man for more than three years on the project, has resigned from the company, "effective immediately, citing personal reasons and a desire to pursue new challenges."

Atlantic Yards, the company stated in a press release (below) issued today via spokesperson Howard Rubenstein, "remains on target."

That's of course a relative term, given that parent company Forest City Enterprises has acknowledged a myriad of factors, including ongoing negotiations with governmental authorities, environmental remediation, various lawsuits, increasing construction costs, scarcity of labor and supplies, the difficulty in obtaining tax exempt financing, and increasing rates for financing.

Stuckey will be succeeded by MaryAnne Gilmartin, the developer's executive VP and director of commercial & residential development. An observer I spoke to described her as a more charming salesperson than the rougher-edged Stuckey, who has other strengths, given his long history in public-private developments.
The press release came not from Forest City's internal public relations department nor Dan Klores Communications, the developer's prime outside public relations consultant on Atlantic Yards. Rather, it came from Rubenstein Associates, the city's premier strategic p.r. firm, whose head, Howard J. Rubenstein, was described by The New Yorker as "a kind of gentle fixer for those who run New York."

Full press release after the complete article.

Posted by lumi at June 14, 2007 12:34 AM