Friday, October 11, 2013

Bruce Ratner on Bloomberg TV: modular architecture will "probably" look better than conventional version

Bloomberg TV Sportfolio's (Building Stadiums and Brands) interviewed Bruce Ratner last night, and while there wasn't much new, there were a few quotes worth noting.

Has [the arena] satisfied all of your internal benchmarks?
Ratner Beyond what I could have expected...

It does take time to generate the significant impact around the neighborhoods.. what about as a retail hub?
Ratner: It depends on whether you look at the landlord, or the tenant. From the landlord's point of view... rents have increased because you've got tremendous activity.

You're also looking for an investor... how's that going?
It's going very well, we've got a lot of interest. And it's going to be terrific, it's going to allow us to build even quicker than we anticipated.

Now, indeed, they do have an investor in the overall Atlantic Yards project

[What about the B2 modular apartment tower?]
The biggest problem for a developer in an urban area... you've got to have a way to control costs... it's modular, not prefab... the quality's excellent, the sustainability, and actually, architecturally, it'll look better, probably, than conventionally [sic].

No this modular building may be an advance on previous ones, but I don't think anyone thinks that modular construction has an advantage over conventional construction.

So we started on that building, and our first module gets placed over the next three or four months.

That means the modules could arrive in January or, as Forest City executive Jane Marshall said last month, "we think that the mods are going to start to arrive in the winter sometime--at the end of the year, beginning of the year."

The Brooklyn market is the best real estate market in the country, there's three or four thousand apartment units being built, in Manhattan, it's maybe 800.



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