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January 28, 2008
Forest City in the News
Cleveland Plain Dealer, A green streak grows through traditional Forest City
Forest City Enterprises wants everyone to know that they are "going green" — like, what company isn't making token gestures towards green-ness these days.
A lesser-known fact: The 800 or so employees at Forest City's downtown headquarters produce more than 1,100 pounds of trash daily. More than 50 percent of that could be recycled. Here's another one: Executives estimate that the company could save roughly $70,000 by turning off or hibernating computers and monitors across the country at the end of the workday and during low-use periods.
This sort of thing really gets to Jon Ratner.
"Generally, waste bugs me. Inefficiency bugs me. And indifference bugs me," said the 36-year-old son of Forest City's chief executive.
That's partly why Ratner worked to have "sustainability" - in this case, the effort to balance environmental concerns and business goals - established as a key value at his family's company. And it's one reason that, in recent years, a shift has taken place in Forest City's corporate culture.
NoLandGrab: The shift towards sustainability hasn't trickled down to Brooklyn, where, at this very moment, in the footprint of Cousin Bruce's controversial Atlantic Yards plan, workers are taking down historic buildings that are crying out for redevelopment in a sustainable fashion. Instead, the site will persist as a wasteland (aka "temporary surface parking lot") for years to come.
Dallas Morning News, Forest City Enterprises buying Wilson Building in downtown Dallas
Another feel-good win-win story about Forest City Enterprises buying a historic building:
Considered one of Dallas' most important landmarks, the Wilson Building was converted into loft apartments in the 1990s.
The eight-story, 143-unit building is being sold by Atlanta-based Post Properties. Located at 1623 Main St., the building is valued for taxes at about $11 million.
"It's a neat building in a great location," Forest City executive vice president David Levey said Thursday. "We are going to spend a little money on improvements."
It's catty-corner from where Forest City is revamping the 65-year-old Mercantile tower into 216 apartments. Construction is also under way on an adjoining residential tower.
NoLandGrab: This is in sharp constrast to what the development company is doing in Brooklyn, where historic buildings are being demolished to make way for Forest City's 16-high-rise and arena megaproject.
It's outrageous that Forest City knows better, but doesn't feel the need to pay Brooklyn the same respect as they do Dallas, LA and DC, where the company is getting high marks for adaptively re-using older manufacturing and commercial buildings.
Reed Construction Data, SCHOTT Solar To Build Albuquerque Plant
Manufacturer to build plant at Forest City Enterprises Mesa Del Sol project in NM:
SCHOTT Solar is preparing to begin construction of a $100-million, 200,000-square-foot plant in Albuquerque’s Mesa del Sol to manufacture critical components for solar thermal receivers and photovoltaic panels.
Meanwhile, stock in Forest City (FCE-B) has been taking a beating, trading as low as $35 a share last week, off from the six-mo. high of $73 in August, 07.
Posted by lumi at January 28, 2008 5:00 AM