Monday, September 1, 2014

Monetary dispute shuts down Atlantic Yards construction

From the NY Times:

Forest City Ratner, the developer at the sprawling Atlantic Yards complex (renamed Pacific Park this month) in Brooklyn, boasted in 2012 that it had “cracked the code” sought by builders for more than a half-century, enabling the company to build residential, high-rise towers faster, better and more cheaply.

But a dark shadow was cast over those claims on Wednesday. Slow-moving work on the first tower shut down completely amid a battle over tens of millions of dollars in cost overruns between Forest City and its partner, Skanska, the giant Swedish construction company that is also the construction manager for the building.

This dispute over a high-profile development is unusually bitter and public, even for the typically rambunctious New York real estate industry.

Skanska on Wednesday unilaterally closed the factory in the Brooklyn Navy Yard where 157 workers assembled and built the steel-framed modules for the first of a planned 14 prefabricated apartment buildings, at Flatbush Avenue and Dean Street.

A day earlier, Skanska ceased work at the construction site, where the building rises to only 10 floors of its 32-story height, 21 months after work started.


Anonymous said...

The Joe Crowley's Democratic Party is pushing for the convention to be held here - a place that displaced 100s of Democrats for a handful of developers.

Sheesh - talking about a political party that has lost its soul.

Anonymous said...

Truly a corrupt country in the same leagues as China and Russia. This country has gone to shit just like them from an endless string of criminal corporations.

Anonymous said...

Skanska is deeply woven into the Christie/Pt. Authority crap: like the other NON NYC/NJ company, Kiewet (Oklahoma), they got the Bayonne Bridge contract solely due to connections. Hire local? You must be kidding!

Missing Foundation said...

Stop calling it 'county' gives it a legitimacy it does not deserve.

"Honest Joe's Machine" sounds about right.