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June 7, 2012

Bikers moving out to make way for builders

Real Estate Weekly
by Sarah Trefethen

Forest City Ratner is four to six weeks away from signing a lease for 100,000 s/f of factory space in the Brooklyn Navy Yard, according to executive vice president MaryAnne Gilmartin.

The space is currently occupied by NYC Bike Share, which is scheduled to relocate to a permanent home in Sunset Park this fall. When that happens, Forest City will ramp up the city’s first factory for building residential high-rise buildings.

The developer plans to build a 32-story, 350-unit residential tower at Atlantic Yards by inserting the factory-built building modules into a steel chassis built on site, Gilmartin told guests at the Beverly Willis Architecture Foundation’s “Glimpse the Future of the AEC Industry” event Tuesday morning.

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NoLandGrab: In Forest City Ratner-speak, "four to six weeks" could mean anywhere from nine months to 25 years.

Related coverage...

Atlantic Yards Report, Forest City's Gilmartin says modular factory lease to be signed in four to six weeks

I'm placing a later quote ahead of an earlier one, but the juxtaposition is telling. At one point, Gilmartin says, “This is absolutely about bringing the unions to the table.”

At another, however, "she expects that in-factory workers will be paid $36 per hour, while the construction workers on-site will make $90 per hour." No wonder Forest City remains in negotiations with the unions.

Posted by eric at June 7, 2012 11:51 AM