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April 3, 2008
Atlantic Yards Developer Rushes to Reassure Investors
Gothamist.com
by John Del Signore
During a conference call with investors yesterday, Forest City Enterprises CEO Charles Ratner acknowledged that a window of opportunity had all but closed for the ambitious, 22-acre housing, retail and stadium project proposed for Brooklyn. But he also insisted that the delay – brought on by recession and dogged opposition from community groups – was just temporary:
The economy sometimes alters the timeline, but we have demonstrated our ability to see these projects through to completion—the value they create is well worth the time and effort. … Real estate is a long-term business. It’s a marathon, not a sprint.
Posted by eric at April 3, 2008 3:40 PM