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August 24, 2009
Yonkers' Ridge Hill opening postponed
The Journal-News
By LEN MANIACE
Like Atlantic Yards, the construction timeline for Bruce Ratner's other regional megaproject is slipping:
While construction is well under way on the massive Ridge Hill development above the New York State Thruway, hopes for opening the mixed-use complex by this year's holiday shopping season have evaporated in the national recession.
The new projected opening? 2011.
Officials at Forest City Ratner Cos. say the lagging construction schedule at the $685 million retail and residential development is due to the company's wish to time the opening to a better economy, rather than from trouble obtaining financing or attracting tenants.
...
Construction began in 2007, and through most of that year Forest City Ratner officials talked about opening the 1.2 million-square-foot complex in late 2009. But in June, the developer's quarterly report pegged the opening somewhere between the third quarter of 2010 and sometime in 2011, an estimate that Pesin recently conceded was somewhat optimistic.
Posted by lumi at August 24, 2009 5:51 AM