Note that the Development Agreement gives them a lot more time--ten years for the third tower to start--before penalties kick in. Construction on the first building has been delayed again and again, though now executives say it will start before the end of the year, though it's not clear yet whether it will be modular construction.
"And then we move on the Phase 2, the development of the project east of Sixth Avenue," Gilmartin concluded. "Let me be clear. Forest City is a company with great determination and deep roots in Brooklyn. We are 100% committed to delivering the entire Atlantic Yards project and all of its benefits, to the borough of Brooklyn."
(Video by Jonathan Barkey)