Thursday, April 02, 2015

New Skanska USA CEO: issues faced in modular venture with Forest City "were specific to that project and partner"

From National Real Estate Investor, Skanska’s New CEO Reflects On Development and Construction’s Future:
NREI: Could you comment on the dispute and settlement between Skanska and Forest City Ratner regarding the misalignment of modular units at Pacific Park Tower? As I understand it, Skanska considered the plans flawed, and Forest City blamed Skanska for the problem, but agreed late last year to buy Skanska out of its stake in the modular company that was producing the units. Will Skanska avoid modular construction in future? 
Rich Cavallaro: Our company’s commitment to innovation is unwavering, and that means continuing to pursue and invest in prefab, modular, integrated project delivery and whatever other innovations and technological advancements will improve the way we have been building for the past hundreds of years. The commercial and design issues we faced in our joint venture with Forest City Ratner were specific to that project and partner. We will continue to look for the right opportunities for modular in the future.
That's an understandably cautious and bland response. Then again, Cavallaro came in after Mike McNally, who was involved in the controversy, retired.

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