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June 1, 2011
Bruce Ratner Interview
Bloomberg
Bruce Ratner, chairman and chief executive officer of Forest City Ratner Cos., discusses the New York real estate market and the outlook for the U.S. economy. Ratner, speaking with Betty Liu on Bloomberg Television's "In the Loop," also talks about the Barclays Center, a new arena in the Brooklyn borough of New York that will be the home of the Nets.
Ratner says today's ADP report of 38,000 private-sector jobs created this month is "terrible" and "much more disappointing than I would have expected" (forecasts predicted about 175,000 new jobs).
Of course, he's not exactly helping, since he promised 17,000 construction jobs and 10,000 permanent jobs at Atlantic Yards, and has delivered about 100 and zero, respectively.
He also says that Mikhail Prokhorov will make a decision on his option to acquire up to 20% of the total Atlantic Yards project "sometime in the next six months."
NoLandGrab: Check out the amazing car-free Flatbush and Atlantic Avenues in the animation beginning around the 5:15 mark.
Related coverage...
Develop Don't Destroy Brooklyn, Ratner: Prokhorov Will Decide in Next 6 Months if He Wants 20% Share of Atlantic Yards Housing
Nets minority owner and Atlantic Yards developer Bruce Ratner was interviewed this morning on Bloomberg TV. The biggest news out of the interview is that Ratner said that within the next 6 months "Michael" Prokhorov will decide whether or not to take the option he has to own 20% of the non-arena part of the project. He already owns 45% of the arena.
Ratner also claimed that the first residential building will start in December or January. If true that would be nearly a year later than claimed in 2010.
Posted by eric at June 1, 2011 4:08 PM