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November 29, 2007

Ceremonial groundbreaking at Forest City Ratner's controversial Ridge Hill project in Yonkers

Journal News, Ceremonial shovels finally hit the ground at Ridge Hill development

Elected officials and developers wielded polished steel ceremonial shovels yesterday not far from where Whole Foods and L.L Bean stores will rise as part of the Ridge Hill project, this city's biggest redevelopment project to date.
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Yesterday was a long time coming. Redevelopment efforts began in the late 1990s under former Mayor John Spencer, who attended the ceremony. Then, in September 2002, the city announced Forest City Ratner would develop the site, which once housed a state drug-treatment center and later Lockheed-Martin, the aviation and aerospace giant.

Forest City Ratner President and CEO Bruce Ratner, however, said the five years of planning was not unreasonable. "People often say to me, 'My God, it took a long time,' but to be honest, a project of this magnitude, with the back and forth on both sides, often does take a long time," Ratner said.

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NoLandGrab: What Bruce means is that political backroom dealing, doing an end-run around the City's own rules and fending off lawsuits is hard work and takes a long time.

Business Wire, Forest City Ratner Companies Breaks Ground on Ridge Hill in Yonkers

From the official press release:

Government officials from the City of Yonkers, County of Westchester and State of New York joined Bruce Ratner, Chairman and CEO of Forest City Ratner Companies (FCRC), today as ground was broken on Ridge Hill, a dynamic and diverse mixed-use project in Yonkers.

“This is a tremendous day for Forest City and the City of Yonkers, and I want to personally thank Mayor Amicone, City Council President Lesnick, and the entire Yonkers City Council for their leadership in making this day possible,” said Bruce Ratner, Chairman and CEO of FCRC. “Ridge Hill will be the next great shopping and entertainment destination in Westchester and we are very pleased to be a significant part of Yonkers’ continuing resurgence.”

Posted by lumi at November 29, 2007 5:17 AM