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September 10, 2011
In Forest City conference call, minimal discussion of Atlantic Yards; Nets losses, as projected in June, continue to grow; arena expected to boost income
Atlantic Yards Report
There wasn't that much new about Atlantic Yards in Forest City Enterprises' second-quarter conference call (transcript) yesterday with investment analysts that wasn't in the press release two days earlier.
Yes, work continues on the arena, and a permit has been applied for the first residential tower.
FCE President and CEO David LaRue made a comment that echoed the "We control the pace" comment from 2008:
In our core markets and key mixed use projects such as Denver and Stapleton, Atlantic Yards in Brooklyn and The Yards in DC, we have existing entitlements that we are able to activate judiciously.
In other words, they build when they get financing.
Posted by steve at September 10, 2011 7:39 PM