Another development executive leaves Forest City New York

In another sign of Forest City New York's diminished capacity, a key development executive on Atlantic Yards/Pacific Park, and other projects, has left the company.

As the Commercial Observer reported yesterday, Oxford Properties Hires Forest City Exec to Run NY Development:

Oxford Properties Group has hired Forest City New York Senior Vice President Kate Bicknell as a vice president and the head of its New York development team, Commercial Observer has learned.
Bicknell, who spent 13 years at the New York arm of Cleveland-based Forest City Realty Trust, officially joined Oxford on Monday.
In this role, she will guide the redevelopment of the 1.3-million-square-foot St. John’s Terminal, which Oxford and Canada Pension Plan Investment Board purchased for $700 million from Westbrook Partners and Atlas Capital Group earlier this year, as CO previously reported.

St. John's Terminal? It's a mixed use complex at the West Village waterfront, at 550 Washington Street, and, according to the Real Deal, should have 1,500 rental apartments plus office and retail space.

Given a press release from Oxford, and a positive comment to the Commercial Observer from FCRT's Jeff Linton, it all looks amicable. But it's a sign that there's less ground-up development to do as Forest City New York lowers its ambitions