According to the report:
And although the company is underwriting the construction with an 18-month timeframe in mind, it believes as much as six months can be shaved off by going modular. Meanwhile, she said, renters at the tower will find the same design standards as they would in a conventionally built apartment high-rise: “No one will feel they got short shrift because they’re in a modular building.”Keep watch, I'd suggest, for Forest City's search for subsidies to get the project off the ground.
Gilmartin, according to the article, said the developer plans to start on the first arena block tower, the world's tallest modular building at 34 stories, later this year. Company CEO Bruce Ratner last week allowed that the time frame could slip until 2013. It's been pushed back again and again.