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December 13, 2011
How Invested Is Bruce Ratner In Prefab? Oh, Only a Few Million
by Matt Chaban
Forest City Ratner has spent $3.5 million on research and development for prefab construction, according to The Journal, which dug the number out of its annual report. Since Mr. Ratner began considering prefab apartment towers in 2009, that is more than a million dollars per year. Add to that the lawsuit Forest City helped fight, and this seems like a considerable commitment to this new approach.
This may put to rest claims that the developer was only looking at prefab as a means to break the unions and get a better rate from them on Atlantic Yards. Then again, with 15 towers containing millions of square feet of space, a few million could be but a drop in the bucket if it means bigger labor saving on the future of the site.
Park Slope Patch, Ratner Still Wants Cheaper Prefab Towers at Atlantic Yards
A five percent savings on the $5 billion project through labor negotiations could mean about $250 million in savings, so even if the developer spends $50 million researching modular construction, Ratner will still be saving money, according to the report.
Posted by eric at December 13, 2011 1:21 PM