An arbitrator late Tuesday ordered striking concrete workers back to their jobs at four sites across the city, ruling that their walkout violated a no-strike provision in labor agreements covering the projects.Yesterday I reported that, though workers had picketed the arena site Monday morning, they were not out yesterday.
The order covered walkouts at Madison Square Garden, the Barclays Center in Brooklyn, World Trade Center Tower 2 and a luxury residential development on West 57th Street. A separate hearing is set for later today on the walkout at a new Weill Cornell Medical College research center on East 69th Street.
...A source close to the building trades said the Cement and Concrete Workers District Council would appeal the ruling. The source said the union's counsel was not properly notified about Tuesday's hearing and therefore did not know about it in time to show up. Had officials known about the hearing, they would have argued that the no-strike provision was no longer in effect because the workers' contract expired at the end of June.
Pacific Park Brooklyn is seriously delayed, Forest City Realty Trust said yesterday in a news release, which further acknowledged that the project has caused a $300 million impairment, or write-down of the asset, as the expected revenues no longer exceed the carrying cost.
The Cleveland-based developer, parent of Brooklyn-based Forest City Ratner, which is a 30% investor in Pacific Park along with 70% partner/overseer Greenland USA, blamed the "significant impairment" on an oversupply of market-rate apartments, the uncertain fate of the 421-a tax break, and a continued increase in construction costs.
While the delay essentially confirms the obvious, given that two major buildings have not launched despite plans to do so, it raises significant questions about the future of the project, including:
if market-rate construction is delayed, will the affordable h…